Bitfarms Ltd. (TSE:BITF) Director Benjamin J. Gagnon Purchases 50,000 Shares

Bitfarms Ltd. (TSE:BITF) Director Benjamin J. Gagnon purchased 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of C$2.26 per share, for a total transaction of C$113,032.80.

Bitfarms Stock Performance

Bitfarms stock traded up C$0.05 during mid-day trading on Friday, reaching C$2.32. The company’s stock had a trading volume of 2,613,183 shares, compared to its average volume of 3,019,336. Bitfarms Ltd. has a 12-month low of C$2.12 and a 12-month high of C$5.25. The company has a market capitalization of C$1.05 billion, a P/E ratio of -4.64 and a beta of 3.20. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.63 and a current ratio of 5.11. The firm’s fifty day moving average price is C$2.77 and its two-hundred day moving average price is C$2.97.

Wall Street Analyst Weigh In

Separately, ATB Capital reduced their price objective on shares of Bitfarms from C$7.00 to C$6.50 in a research note on Thursday, November 14th.

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.