Bitfarms (TSE:BITF) Price Target Raised to C$7.50 at ATB Capital

Bitfarms (TSE:BITF) had its target price hoisted by ATB Capital from C$5.00 to C$7.50 in a research note released on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Bitfarms Stock Performance

Shares of BITF opened at C$4.24 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 0.63 and a debt-to-equity ratio of 6.74. Bitfarms has a 12 month low of C$1.26 and a 12 month high of C$5.25. The company has a market cap of C$1.59 billion, a price-to-earnings ratio of -7.71 and a beta of 3.33. The business’s fifty day simple moving average is C$2.87 and its two-hundred day simple moving average is C$3.27.

Insider Transactions at Bitfarms

In other news, insider Riot Platforms, Inc. purchased 52,600 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average cost of C$2.14 per share, for a total transaction of C$112,564.00. Company insiders own 4.42% of the company’s stock.

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.