Insider Buying: Bitfarms Ltd. (TSE:BITF) Senior Officer Acquires 10,000 Shares of Stock

Bitfarms Ltd. (TSE:BITF - Get Free Report) Senior Officer Philippe Fortier purchased 10,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was acquired at an average price of C$1.22 per share, with a total value of C$12,242.32.

Bitfarms Price Performance

Shares of Bitfarms stock traded down C$0.04 during trading on Friday, reaching C$1.14. 1,160,310 shares of the stock traded hands, compared to its average volume of 2,073,759. The company has a market capitalization of C$399.82 million, a price-to-earnings ratio of -2.57 and a beta of 3.20. The business has a fifty day simple moving average of C$1.33 and a two-hundred day simple moving average of C$1.84. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63. Bitfarms Ltd. has a 52-week low of C$0.96 and a 52-week high of C$4.49.

Analyst Upgrades and Downgrades

Separately, ATB Capital cut their price target on Bitfarms from C$6.50 to C$3.75 and set an "outperform" rating for the company in a research note on Friday, March 28th.

About Bitfarms

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.