Bitfarms (TSE:BITF) Stock Price Down 4.6% - Should You Sell?

Bitfarms Ltd. (TSE:BITF - Get Free Report) shares were down 4.6% on Monday . The stock traded as low as C$2.47 and last traded at C$2.47. Approximately 379,794 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 3,669,390 shares. The stock had previously closed at C$2.59.

Bitfarms Trading Down 6.9 %

The firm has a fifty day moving average of C$2.75 and a two-hundred day moving average of C$3.04. The company has a market cap of C$1.09 billion, a PE ratio of -4.88 and a beta of 3.20. The company has a current ratio of 5.11, a quick ratio of 0.63 and a debt-to-equity ratio of 3.35.

Insider Buying and Selling

In related news, insider Riot Platforms, Inc. bought 27,300 shares of Bitfarms stock in a transaction on Monday, August 12th. The stock was acquired at an average price of C$2.30 per share, with a total value of C$62,653.50. In the last 90 days, insiders bought 36,380 shares of company stock valued at $86,456. 23.38% of the stock is owned by insiders.

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.