Bitfarms (TSE:BITF) Trading 1.3% Higher – Here’s What Happened

Bitfarms Ltd. (TSE:BITF)’s stock price traded up 1.3% on Friday . The company traded as high as C$1.67 and last traded at C$1.61. 2,013,238 shares were traded during mid-day trading, a decline of 23% from the average session volume of 2,599,178 shares. The stock had previously closed at C$1.59.

Bitfarms Trading Up 1.3 %

The business’s 50-day moving average price is C$2.01 and its two-hundred day moving average price is C$2.51. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63. The firm has a market cap of C$564.66 million, a price-to-earnings ratio of -3.62 and a beta of 3.20.

Insider Activity

In related news, Senior Officer Philippe Fortier purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average price of C$2.36 per share, with a total value of C$59,000.00. Also, Director Benjamin J. Gagnon purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average cost of C$2.26 per share, with a total value of C$113,032.80. Insiders bought a total of 102,760 shares of company stock valued at $236,450 over the last 90 days. Insiders own 23.38% of the company’s stock.

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.