Bitfarms (TSE:BITF) Given New C$3.75 Price Target at ATB Capital

Bitfarms (TSE:BITF) had its target price lowered by ATB Capital from C$6.50 to C$3.75 in a report released on Friday,BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Bitfarms Stock Down 11.8 %

TSE:BITF opened at C$1.20 on Friday. Bitfarms has a 52 week low of C$1.18 and a 52 week high of C$4.49. The stock’s fifty day moving average is C$1.83 and its two-hundred day moving average is C$2.42. The stock has a market capitalization of C$420.86 million, a price-to-earnings ratio of -2.70 and a beta of 3.20. The company has a quick ratio of 0.63, a current ratio of 3.70 and a debt-to-equity ratio of 4.68.

Insider Activity at Bitfarms

In other Bitfarms news, Director Benjamin J. Gagnon bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average cost of C$2.26 per share, with a total value of C$113,032.80. Insiders bought 67,760 shares of company stock worth $153,402 in the last three months. 23.38% of the stock is owned by company insiders.

About Bitfarms

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.