Bitfarms (TSE:BITF) Shares Up 6.6%

Bitfarms Ltd. (TSE:BITF) rose 6.6% on Tuesday . The company traded as high as C$3.89 and last traded at C$3.89. Approximately 915,889 shares changed hands during trading, a decline of 78% from the average daily volume of 4,194,528 shares. The stock had previously closed at C$3.65.

Wall Street Analyst Weigh In

Separately, ATB Capital upped their price objective on Bitfarms from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 19th.

Bitfarms Stock Down 5.0 %

The business has a 50 day moving average of C$3.01 and a two-hundred day moving average of C$3.30. The stock has a market capitalization of C$1.36 billion, a PE ratio of -6.56 and a beta of 3.33. The company has a debt-to-equity ratio of 6.74, a quick ratio of 0.63 and a current ratio of 1.88.

Insider Activity at Bitfarms

In other Bitfarms news, insider Riot Platforms, Inc. bought 52,600 shares of Bitfarms stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of C$2.14 per share, with a total value of C$112,564.00. 4.42% of the stock is currently owned by corporate insiders.

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.