Bitfarms (TSE:BITF) Shares Down 6.4% - Here's What Happened

Key Points

• Bitfarms shares experienced a decline of 6.4%, trading at C$3.95, down from the previous close of C$4.22, with an increase in trading volume of 24% from the average.
• The company's current debt-to-equity ratio stands at 4.68, and it has a market capitalization of C$1.97 billion along with a negative price-to-earnings ratio of -22.25.
• Recent insider activity included the sale of 506,995 shares over the past 90 days, with insiders owning 23.38% of the company's stock.

Bitfarms Ltd. (TSE:BITF - ) traded down 6.4% during trading on Tuesday . The stock traded as low as C$3.94 and last traded at C$3.95. 3,570,761 shares traded hands during trading, an increase of 24% from the average session volume of 2,875,114 shares. The stock had previously closed at C$4.22.

Bitfarms Stock Performance

The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.63 and a current ratio of 3.70. The firm's 50 day simple moving average is C$2.07 and its 200 day simple moving average is C$1.59. The firm has a market capitalization of C$1.97 billion, a price-to-earnings ratio of -22.25 and a beta of 4.35.

Insider Activity at Bitfarms

In other Bitfarms news, insider Marieve Rodrigue sold 45,000 shares of Bitfarms stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$4.78, for a total transaction of C$215,100.00. Also, insider Riot Platforms, Inc. sold 280,825 shares of Bitfarms stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of C$1.58, for a total transaction of C$442,439.79. Over the last 90 days, insiders have sold 506,995 shares of company stock valued at $935,086. Company 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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