Insider Selling: Bitfarms Ltd. (TSE:BITF) Senior Officer Sells 42,500 Shares of Stock

Bitfarms Ltd. (TSE:BITF) Senior Officer Benoit Gobeil sold 42,500 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of C$3.43, for a total value of C$145,775.00.

Bitfarms Trading Up 9.3 %

Shares of BITF stock opened at C$3.64 on Friday. The firm has a market capitalization of C$1.37 billion, a P/E ratio of -6.62 and a beta of 3.33. Bitfarms Ltd. has a twelve month low of C$1.26 and a twelve month high of C$5.25. The company has a quick ratio of 0.63, a current ratio of 1.88 and a debt-to-equity ratio of 6.74. The stock’s fifty day simple moving average is C$3.11 and its 200 day simple moving average is C$3.30.

Analysts Set New Price Targets

Separately, ATB Capital boosted their price objective on Bitfarms from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 19th.

Bitfarms Company Profile

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.