Bitfarms (TSE:BITF) Trading Down 4.1% – What’s Next?

Bitfarms Ltd. (TSE:BITF) shares were down 4.1% during mid-day trading on Friday . The stock traded as low as C$3.70 and last traded at C$3.74. Approximately 2,750,120 shares were traded during trading, a decline of 37% from the average daily volume of 4,365,822 shares. The stock had previously closed at C$3.90.

Bitfarms Stock Performance

The firm’s 50-day moving average price is C$3.00 and its two-hundred day moving average price is C$3.92. The company has a debt-to-equity ratio of 122.02, a quick ratio of 0.63 and a current ratio of 5.58. The stock has a market cap of C$2.39 billion, a price-to-earnings ratio of -7.62 and a beta of 3.41.

Bitfarms (TSE:BITF) last announced its quarterly earnings results on Tuesday, March 31st. The company reported C($0.34) earnings per share for the quarter. The firm had revenue of C$68.89 million for the quarter. Bitfarms had a negative net margin of 91.87% and a negative return on equity of 33.72%. On average, analysts expect that Bitfarms Ltd. will post 0.0339165 EPS for the current fiscal year.

About Bitfarms

Bitfarms is a global, publicly traded (NASDAQ/TSX: BITF) Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Companyâ¿¿s proprietary data analytics system delivers best-in-class operational performance and uptime.Bitfarms currently has 10 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.