ATB Capital Raises Bitfarms (TSE:BITF) Price Target to C$7.50

Bitfarms (TSE:BITF) had its target price hoisted by ATB Capital from C$5.00 to C$7.50 in a report issued on Wednesday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Bitfarms Stock Performance

TSE:BITF opened at C$4.24 on Wednesday. Bitfarms has a 52-week low of C$1.26 and a 52-week high of C$5.25. The business’s fifty day moving average is C$2.87 and its 200 day moving average is C$3.27. The company has a debt-to-equity ratio of 6.74, a quick ratio of 0.63 and a current ratio of 1.88. The firm has a market cap of C$1.59 billion, a price-to-earnings ratio of -7.71 and a beta of 3.33.

Insider Transactions at Bitfarms

In other news, insider Riot Platforms, Inc. purchased 52,600 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of C$2.14 per share, with a total value of C$112,564.00. Insiders own 4.42% of the company’s stock.

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.