Bitfarms Ltd. (TSE:BITF - Get Free Report)'s stock price rose 0.8% during trading on Tuesday . The stock traded as high as C$1.29 and last traded at C$1.26. Approximately 829,997 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,146,493 shares. The stock had previously closed at C$1.25.
Analyst Ratings Changes
Separately, ATB Capital reduced their target price on shares of Bitfarms from C$6.50 to C$3.75 and set an "outperform" rating on the stock in a research note on Friday, March 28th.
View Our Latest Report on BITF
Bitfarms Price 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 company's 50 day moving average price is C$1.32 and its 200 day moving average price is C$1.89. The company has a market cap of C$427.88 million, a price-to-earnings ratio of -2.75 and a beta of 3.20.
Insider Activity
In related news, Senior Officer Jeffrey Lucas sold 88,178 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of C$1.09, for a total transaction of C$96,114.02. Also, Director Brian Howlett sold 32,001 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of C$1.16, for a total transaction of C$37,121.16. 23.38% of the stock is owned by corporate insiders.
About Bitfarms
(
Get Free Report)
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.
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