Bitfarms (TSE:BITF) Trading Up 5% - Still a Buy?

Key Points

• Bitfarms Ltd. shares rose by 5%, closing at C$4.41 with a significant increase in trading volume, up 618% compared to the average.
• The company has a market cap of C$2.44 billion, a debt-to-equity ratio of 4.68, and a PE ratio of -27.56.
• Insiders, including Riot Platforms, Inc., sold nearly 462,000 shares in recent months, indicating insider trading activity within the company.

Bitfarms Ltd. (TSE:BITF - )'s share price was up 5% during trading on Thursday . The company traded as high as C$4.96 and last traded at C$4.41. Approximately 20,013,752 shares were traded during trading, an increase of 618% from the average daily volume of 2,788,017 shares. The stock had previously closed at C$4.20.

Bitfarms Stock Performance

The business has a 50-day moving average of C$1.96 and a 200 day moving average of C$1.55. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63. The company has a market cap of C$2.44 billion, a PE ratio of -27.56 and a beta of 4.35.

Insider Transactions at Bitfarms

In other Bitfarms news, insider Riot Platforms, Inc. sold 280,825 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of C$1.58, for a total transaction of C$442,439.79. Insiders sold a total of 461,995 shares of company stock worth $719,986 over the last three months. 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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