ATB Capital Cuts Bitfarms (TSE:BITF) Price Target to C$3.75

Bitfarms (TSE:BITF) had its target price decreased by ATB Capital from C$6.50 to C$3.75 in a report released on Friday morning,BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Bitfarms Stock Performance

TSE:BITF opened at C$1.20 on Friday. The company has a current ratio of 3.70, a quick ratio of 0.63 and a debt-to-equity ratio of 4.68. Bitfarms has a 12-month low of C$1.18 and a 12-month high of C$4.49. The stock has a 50-day moving average price of C$1.83 and a 200 day moving average price of C$2.42. The stock has a market capitalization of C$420.86 million, a P/E ratio of -2.70 and a beta of 3.20.

Insider Transactions at Bitfarms

In other Bitfarms news, Director Benjamin J. Gagnon bought 50,000 shares of Bitfarms stock in a transaction dated Friday, January 10th. The shares were purchased at an average cost of C$2.26 per share, for a total transaction of C$113,032.80. Over the last three months, insiders have bought 61,760 shares of company stock valued at $140,262. 23.38% of the stock is currently owned by insiders.

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.