Insider Buying: Bitfarms Ltd. (TSE:BITF) Senior Officer Acquires C$12,242.32 in Stock

Bitfarms Ltd. (TSE:BITF) Senior Officer Philippe Fortier acquired 10,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of C$1.22 per share, with a total value of C$12,242.32.

Bitfarms Trading Up 1.6%

Shares of TSE BITF traded up C$0.02 during midday trading on Tuesday, reaching C$1.28. 317,944 shares of the stock were exchanged, compared to its average volume of 2,093,324. The company has a market capitalization of C$448.92 million, a price-to-earnings ratio of -2.88 and a beta of 3.20. Bitfarms Ltd. has a 12 month low of C$0.96 and a 12 month high of C$4.49. 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 business has a 50-day simple moving average of C$1.32 and a two-hundred day simple moving average of C$1.86.

Wall Street Analyst Weigh In

Separately, ATB Capital lowered their target price on shares of Bitfarms from C$6.50 to C$3.75 and set an “outperform” rating for the company in a report on Friday, March 28th.

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.