Bitfarms (TSE:BITF) Shares Down 0.7%

Bitfarms Ltd. (TSE:BITF) was down 0.7% during trading on Wednesday . The company traded as low as C$2.74 and last traded at C$2.75. Approximately 79,754 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 3,812,447 shares. The stock had previously closed at C$2.77.

Wall Street Analysts Forecast Growth

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

Bitfarms Price Performance

The company has a market cap of C$1.22 billion, a PE ratio of -5.65 and a beta of 3.23. The company has a debt-to-equity ratio of 3.35, a current ratio of 5.11 and a quick ratio of 0.63. The stock’s 50-day moving average is C$3.18 and its 200 day moving average is C$3.10.

Insider Transactions at Bitfarms

In other Bitfarms news, insider Riot Platforms, Inc. bought 100,209 shares of Bitfarms stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of C$2.62 per share, with a total value of C$262,547.58. In other news, Senior Officer Benoit Gobeil sold 42,500 shares of Bitfarms stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of C$3.43, for a total transaction of C$145,775.00. Also, insider Riot Platforms, Inc. bought 100,209 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of C$2.62 per share, for a total transaction of C$262,547.58. Insiders acquired 133,581 shares of company stock valued at $339,316 in the last quarter. 23.34% of the stock is currently owned by corporate insiders.

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.