Bitfarms (TSE:BITF) Trading 3.5% Higher – What’s Next?

Bitfarms Ltd. (TSE:BITF) shot up 3.5% on Thursday . The company traded as high as C$3.29 and last traded at C$3.28. 3,134,541 shares were traded during mid-day trading, a decline of 29% from the average session volume of 4,412,255 shares. The stock had previously closed at C$3.17.

Bitfarms Price Performance

The firm has a 50-day moving average of C$3.22 and a 200-day moving average of C$3.92. The stock has a market cap of C$1.98 billion, a PE ratio of -14.26 and a beta of 3.64. The company has a debt-to-equity ratio of 12.05, a current ratio of 3.20 and a quick ratio of 0.63.

Insiders Place Their Bets

In other Bitfarms news, Director Brian Howlett sold 88,239 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of C$4.30, for a total value of C$379,427.70. Following the completion of the transaction, the director directly owned 144,946 shares in the company, valued at C$623,267.80. This represents a 37.84% decrease in their position. 23.38% of the stock is owned by insiders.

Bitfarms Company Profile

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.