Bitfarms (TSE:BITF - Free Report) had its price target trimmed by ATB Capital from C$6.50 to C$3.75 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.
Bitfarms Price Performance
TSE:BITF traded down C$0.07 during trading hours on Friday, reaching C$1.13. 2,258,996 shares of the company traded hands, compared to its average volume of 2,494,483. Bitfarms has a 1-year low of C$1.10 and a 1-year high of C$4.49. The stock has a market cap of C$396.31 million, a P/E ratio of -2.54 and a beta of 3.20. The firm's 50-day moving average is C$1.83 and its 200-day moving average is C$2.42. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63.
Insider Activity
In related news, Director Benjamin J. Gagnon bought 50,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of C$2.26 per share, with a total value of C$113,032.80. Insiders acquired a total of 61,760 shares of company stock valued at $140,262 over the last quarter. Company insiders own 23.38% of the company's stock.
About Bitfarms
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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.
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