Bitfarms (TSE:BITF) Reaches New 52-Week Low – Here’s What Happened

Shares of Bitfarms Ltd. (TSE:BITF) reached a new 52-week low on Friday . The company traded as low as C$1.83 and last traded at C$1.85, with a volume of 1750877 shares. The stock had previously closed at C$1.98.

Wall Street Analyst Weigh In

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 Trading Down 5.6 %

The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.63 and a current ratio of 3.70. The business has a 50 day moving average of C$2.27 and a two-hundred day moving average of C$2.67. The firm has a market capitalization of C$655.85 million, a price-to-earnings ratio of -4.21 and a beta of 3.20.

Insiders Place Their Bets

In other Bitfarms news, Senior Officer Philippe Fortier bought 25,000 shares of Bitfarms stock in a transaction dated Tuesday, December 24th. The stock was bought at an average cost of C$2.36 per share, with a total value of C$59,000.00. Also, Director Brian Howlett sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$2.44, for a total value of C$73,200.00. In the last ninety days, insiders purchased 102,760 shares of company stock valued at $236,450. Corporate insiders own 23.38% of the company’s stock.

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.