Insider Buying: Bitfarms Ltd. (TSE:BITF) Senior Officer Buys 10,000 Shares of Stock

Bitfarms Ltd. (TSE:BITF - Get Free Report) Senior Officer Philippe Fortier acquired 10,000 shares of Bitfarms stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average price of C$2.40 per share, for a total transaction of C$24,048.00.

Philippe Fortier also recently made the following trade(s):

• On Tuesday, December 24th, Philippe Fortier acquired 25,000 shares of Bitfarms stock. The shares were acquired at an average cost of C$2.36 per share, with a total value of C$59,000.00.

Bitfarms Stock Performance

Shares of TSE BITF traded down C$0.11 during midday trading on Friday, hitting C$2.34. 3,090,366 shares of the company's stock were exchanged, compared to its average volume of 3,955,843. The company has a debt-to-equity ratio of 3.35, a current ratio of 5.11 and a quick ratio of 0.63. The stock's 50 day moving average price is C$2.88 and its 200-day moving average price is C$3.08. Bitfarms Ltd. has a twelve month low of C$2.12 and a twelve month high of C$5.25. The firm has a market cap of C$1.06 billion, a P/E ratio of -4.68 and a beta of 3.20.

Wall Street Analysts Forecast Growth

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

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.