Bitfarms (TSE:BITF) Sets New 1-Year Low - Time to Sell?

Shares of Bitfarms Ltd. (TSE:BITF - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$1.44 and last traded at C$1.45, with a volume of 1597012 shares changing hands. The stock had previously closed at C$1.59.

Bitfarms Stock Performance

The company has a current ratio of 3.70, a quick ratio of 0.63 and a debt-to-equity ratio of 4.68. The firm has a market capitalization of C$519.07 million, a price-to-earnings ratio of -3.33 and a beta of 3.20. The company has a 50-day moving average of C$1.92 and a 200-day moving average of C$2.46.

Insider Activity at Bitfarms

In related news, Director Benjamin J. Gagnon acquired 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. Also, Senior Officer Philippe Fortier purchased 25,000 shares of the firm's stock in a transaction dated Tuesday, December 24th. The stock was acquired 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 have bought 102,760 shares of company stock valued at $236,450. Corporate insiders own 23.38% of the company's stock.

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.