Insider Buying: Bitfarms Ltd. (TSE:BITF) Director Acquires 50,000 Shares of Stock

Bitfarms Ltd. (TSE:BITF) Director Benjamin J. Gagnon purchased 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was purchased at an average price of C$2.26 per share, with a total value of C$113,032.80.

Bitfarms Trading Up 2.2 %

TSE:BITF traded up C$0.05 during trading hours on Friday, hitting C$2.32. 2,613,183 shares of the company were exchanged, compared to its average volume of 3,019,336. The stock has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -4.64 and a beta of 3.20. The company has a current ratio of 5.11, a quick ratio of 0.63 and a debt-to-equity ratio of 3.35. Bitfarms Ltd. has a one year low of C$2.12 and a one year high of C$5.25. The company has a fifty day simple moving average of C$2.77 and a 200 day simple moving average of C$2.97.

Analyst Upgrades and Downgrades

Separately, ATB Capital dropped their price target on Bitfarms from C$7.00 to C$6.50 in a research note on Thursday, November 14th.

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.