Bitfarms (TSE:BITF) Sets New 1-Year High - Should You Buy?

Key Points

• Bitfarms Ltd. shares reached a new 52-week high of C$5.28 during trading, closing last at C$4.83 with a trading volume of over 11.6 million shares.
• The company has a market cap of C$2.67 billion and a significant beta of 5.12, indicating higher volatility compared to the market.
• Insider sales have occurred recently, with Riot Platforms selling 280,825 shares and Marc-André Ammann selling 52,500 shares, totaling over C$666,000 in transactions.

Shares of Bitfarms Ltd. (TSE:BITF - ) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$5.28 and last traded at C$4.83, with a volume of 11647476 shares. The stock had previously closed at C$4.82.

Bitfarms Stock Up 0.2%

The firm has a fifty day moving average price of C$2.55 and a 200-day moving average price of C$1.75. 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 firm has a market cap of C$2.67 billion, a price-to-earnings ratio of -30.19 and a beta of 5.12.

Insider Activity at Bitfarms

In related news, insider Riot Platforms, Inc. sold 280,825 shares of Bitfarms stock in a transaction on Monday, July 14th. The stock was sold at an average price of C$1.58, for a total value of C$442,439.79. Also, insider Marc-Andr� Ammann sold 52,500 shares of Bitfarms stock in a transaction on Friday, October 3rd. The shares were sold at an average price of C$4.27, for a total value of C$224,175.00. Over the last 90 days, insiders have sold 488,340 shares of company stock worth $1,056,920. 23.38% of the stock is owned by insiders.

About Bitfarms

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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