Bitfarms (TSE:BITF) Sets New 1-Year Low - Here's What Happened

Bitfarms Ltd. (TSE:BITF - Get Free Report) hit a new 52-week low on Monday . The company traded as low as C$1.91 and last traded at C$2.06, with a volume of 1918199 shares changing hands. The stock had previously closed at C$2.12.

Analysts Set New Price Targets

Separately, ATB Capital lowered their price objective on shares of Bitfarms from C$7.00 to C$6.50 in a research note on Thursday, November 14th.

Bitfarms Stock Down 0.5 %

The business's fifty day moving average price is C$2.47 and its two-hundred day moving average price is C$2.78. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.63 and a current ratio of 5.11. The firm has a market capitalization of C$919.31 million, a P/E ratio of -4.06 and a beta of 3.20.

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 price of C$2.26 per share, with a total value of C$113,032.80. Also, Director Brian Howlett sold 30,000 shares of the company's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of C$2.44, for a total transaction of C$73,200.00. Insiders acquired 102,760 shares of company stock valued at $236,450 in the last quarter. 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.