Bitfarms (TSE:BITF) Trading 36.5% Higher - Still a Buy?

Key Points

• Bitfarms Ltd. stock surged 36.5% in mid-day trading, closing at C$8.00 after a high of C$8.07, with trading volume increasing by 349% compared to the average.
• The company has a market capitalization of C$4.72 billion, with a price-to-earnings ratio of -53.44 and a debt-to-equity ratio of 4.68.
• Insider trading activity included sales of 35,000 shares by Guillaume Reeves and 45,000 shares by Marieve Rodrigue, totaling over C$400,000 in transactions, as insiders own 23.38% of the company's stock.

Bitfarms Ltd. (TSE:BITF - )'s stock price rose 36.5% during mid-day trading on Tuesday . The company traded as high as C$8.07 and last traded at C$8.00. Approximately 15,610,285 shares were traded during trading, an increase of 349% from the average daily volume of 3,475,107 shares. The stock had previously closed at C$5.86.

Bitfarms Price Performance

The company has a current ratio of 3.70, a quick ratio of 0.63 and a debt-to-equity ratio of 4.68. The company has a market cap of C$4.72 billion, a price-to-earnings ratio of -53.44 and a beta of 5.12. The business has a 50-day moving average price of C$2.94 and a 200 day moving average price of C$1.90.

Insider Activity

In related news, insider Guillaume Reeves sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of C$5.24, for a total transaction of C$183,400.00. Also, 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. Over the last 90 days, insiders sold 353,106 shares of company stock worth $1,776,661. 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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