Bitfarms Ltd. (TSE:BITF - Get Free Report)'s stock 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 changed hands 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.
Analyst Upgrades and Downgrades
Separately, ATB Capital reduced their price objective on Bitfarms from C$7.00 to C$6.50 in a research note on Thursday, November 14th.
Read Our Latest Stock Analysis on Bitfarms
Bitfarms Trading Up 2.5 %
The firm's 50-day simple moving average is C$2.73 and its 200 day simple moving average is C$2.92. The firm has a market cap of C$1.11 billion, a P/E ratio of -4.90 and a beta of 3.20. The company has a quick ratio of 0.63, a current ratio of 5.11 and a debt-to-equity ratio of 3.35.
Insider Activity at Bitfarms
In other news, Director Benjamin J. Gagnon purchased 50,000 shares of Bitfarms stock in a transaction dated 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 bought 25,000 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was acquired at an average price of C$2.36 per share, for a total transaction of C$59,000.00. In the last ninety days, insiders acquired 102,760 shares of company stock worth $236,450. Corporate 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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