Philippe Fortier Purchases 10,000 Shares of Bitfarms Ltd. (TSE:BITF) Stock

Bitfarms Ltd. (TSE:BITF) Senior Officer Philippe Fortier acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of C$1.22 per share, for a total transaction of C$12,242.32.

Bitfarms Trading Down 6.1%

Shares of TSE:BITF opened at C$1.23 on Thursday. Bitfarms Ltd. has a fifty-two week low of C$0.96 and a fifty-two week high of C$4.49. The company has a market cap of C$431.39 million, a PE ratio of -2.77 and a beta of 3.20. The company’s 50-day moving average price is C$1.33 and its 200 day moving average price is C$1.85. The company has a quick ratio of 0.63, a current ratio of 3.70 and a debt-to-equity ratio of 4.68.

Analyst Upgrades and Downgrades

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

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.