Bitfarms (TSE:BITF) Trading 1.3% Higher - Time to Buy?

Bitfarms Ltd. (TSE:BITF - Get Free Report)'s stock price traded up 1.3% during mid-day trading on Friday . The company traded as high as C$1.67 and last traded at C$1.61. 2,013,238 shares were traded during trading, a decline of 23% from the average session volume of 2,599,178 shares. The stock had previously closed at C$1.59.

Bitfarms Stock Up 1.3 %

The firm has a market cap of C$564.66 million, a price-to-earnings ratio of -3.62 and a beta of 3.20. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63. The stock has a 50-day moving average of C$2.01 and a 200-day moving average of C$2.51.

Insider Buying and Selling

In other Bitfarms news, Senior Officer Philippe Fortier bought 25,000 shares of Bitfarms stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of C$2.36 per share, with a total value of C$59,000.00. Also, Director Benjamin J. Gagnon bought 50,000 shares of Bitfarms stock in a transaction on Friday, January 10th. The stock was acquired at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. Insiders have purchased 102,760 shares of company stock valued at $236,450 over the last 90 days. 23.38% of the stock is 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.