Bitfarms (TSE:BITF) Hits New 1-Year High - Time to Buy?

Key Points

• Bitfarms Ltd. reached a new 52-week high of C$8.95 during trading, implying strong investor interest as the stock had a volume of over 16 million shares traded.
• The company has a market capitalization of C$4.98 billion and a notably high debt-to-equity ratio of 4.68, indicating potential financial risk.
• Recent insider transactions included the sale of over 350,000 shares by company insiders, which could be viewed as a bearish signal for potential investors.

Bitfarms Ltd. (TSE:BITF - ) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$8.95 and last traded at C$8.26, with a volume of 16821093 shares traded. The stock had previously closed at C$8.26.

Bitfarms Stock Up 9.2%

The company has a quick ratio of 0.63, a current ratio of 3.70 and a debt-to-equity ratio of 4.68. The stock has a market cap of C$4.98 billion, a P/E ratio of -56.38 and a beta of 5.12. The company has a 50-day simple moving average of C$3.07 and a two-hundred day simple moving average of C$1.95.

Insider Buying and Selling

In other news, insider Marieve Rodrigue sold 45,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of C$4.78, for a total transaction of C$215,100.00. Also, insider Marc-Andr� Ammann sold 70,000 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of C$5.20, for a total value of C$364,000.00. In the last three months, insiders sold 352,506 shares of company stock valued at $1,775,786. Insiders own 23.38% of the company's stock.

Bitfarms Company Profile

Bitfarms is a global, publicly traded NASDAQ/TSX: BITF Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Companyâ¿¿s proprietary data analytics system delivers best-in-class operational performance and uptime.Bitfarms currently has 10 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.

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