Bitfarms (TSE:BITF) Reaches New 52-Week Low – Here’s What Happened

Bitfarms Ltd. (TSE:BITF)’s stock price reached a new 52-week low on Tuesday . The company traded as low as C$1.08 and last traded at C$1.16, with a volume of 815886 shares traded. The stock had previously closed at C$1.13.

Analyst Ratings Changes

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

Bitfarms Stock Performance

The stock has a market cap of C$406.84 million, a PE ratio of -2.61 and a beta of 3.20. The company has a debt-to-equity ratio of 4.68, a current ratio of 3.70 and a quick ratio of 0.63. The stock has a 50-day simple moving average of C$1.76 and a 200-day simple moving average of C$2.38.

Insider Activity

In other Bitfarms news, Director Benjamin J. Gagnon acquired 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of C$2.26 per share, with a total value of C$113,032.80. Insiders have bought 61,760 shares of company stock valued at $140,262 in the last three months. Corporate insiders own 23.38% 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.