Bitfarms (TSE:BITF) Trading 1.3% Higher – Should You Buy?

Shares of Bitfarms Ltd. (TSE:BITF) traded up 1.3% during mid-day trading on Friday . The company traded as high as C$1.67 and last traded at C$1.61. 2,013,238 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 2,599,178 shares. The stock had previously closed at C$1.59.

Bitfarms Price Performance

The stock has a 50 day moving average of C$2.01 and a 200-day moving average of C$2.51. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.63 and a current ratio of 3.70. The company has a market cap of C$564.66 million, a PE ratio of -3.62 and a beta of 3.20.

Insider Transactions at Bitfarms

In other Bitfarms news, Director Benjamin J. Gagnon bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. Also, Director Brian Howlett sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$2.44, for a total value of C$73,200.00. Insiders bought a total of 102,760 shares of company stock worth $236,450 over the last three months. 23.38% of the stock is currently owned by 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.