Bitfarms (TSE:BITF) Stock Price Up 0.4% – Here’s What Happened

Bitfarms Ltd. (TSE:BITF)’s share price rose 0.4% during trading on Friday . The company traded as high as C$2.44 and last traded at C$2.39. Approximately 2,247,203 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 2,974,914 shares. The stock had previously closed at C$2.38.

Wall Street Analysts Forecast Growth

Separately, ATB Capital cut their price objective on Bitfarms from C$7.00 to C$6.50 in a research report on Thursday, November 14th.

Bitfarms Trading Up 5.9 %

The company has a fifty day simple moving average of C$2.74 and a two-hundred day simple moving average of C$2.93. The company has a market cap of C$1.15 billion, a PE ratio of -5.06 and a beta of 3.20. The company has a current ratio of 5.11, a quick ratio of 0.63 and a debt-to-equity ratio of 3.35.

Insider Transactions at Bitfarms

In other 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 purchased at an average cost of C$2.26 per share, with a total value of C$113,032.80. Also, Senior Officer Philippe Fortier bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average cost of C$2.36 per share, with a total value of C$59,000.00. In the last ninety days, insiders acquired 102,760 shares of company stock valued at $236,450. 23.38% of the stock is currently owned by corporate insiders.

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.