ATB Capital Has Lowered Expectations for Bitfarms (TSE:BITF) Stock Price

Bitfarms (TSE:BITF) had its price objective cut by ATB Capital from C$7.00 to C$6.50 in a report released on Thursday morning,BayStreet.CA reports.

Bitfarms Trading Up 6.7 %

Shares of TSE BITF opened at C$3.17 on Thursday. The firm has a 50-day moving average of C$2.81 and a 200 day moving average of C$3.06. Bitfarms has a 1 year low of C$1.37 and a 1 year high of C$5.25. The stock has a market cap of C$1.44 billion, a P/E ratio of -6.34 and a beta of 3.20. The company has a debt-to-equity ratio of 3.35, a current ratio of 5.11 and a quick ratio of 0.63.

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.