Bitfarms (TSE:BITF) Trading Down 4.7%

Bitfarms Ltd. (TSE:BITF)’s share price was down 4.7% during mid-day trading on Friday . The company traded as low as C$3.98 and last traded at C$4.07. Approximately 357,436 shares were traded during trading, a decline of 91% from the average daily volume of 4,191,484 shares. The stock had previously closed at C$4.27.

Wall Street Analyst Weigh In

Separately, ATB Capital boosted their target price on shares of Bitfarms from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday.

Bitfarms Trading Down 5.2 %

The business’s 50 day moving average price is C$2.93 and its two-hundred day moving average price is C$3.29. The company has a market capitalization of C$1.52 billion, a price-to-earnings ratio of -7.36 and a beta of 3.33. The company has a debt-to-equity ratio of 6.74, a quick ratio of 0.63 and a current ratio of 1.88.

Insider Transactions at Bitfarms

In other Bitfarms news, insider Riot Platforms, Inc. bought 52,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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.

Bitfarms Company Profile

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.