Bitfarms (TSE:BITF) Hits New 1-Year Low – Here’s What Happened

Bitfarms Ltd. (TSE:BITF) reached a new 52-week low during trading on Wednesday . The stock traded as low as C$1.41 and last traded at C$1.40, with a volume of 2141436 shares changing hands. The stock had previously closed at C$1.53.

Bitfarms Price Performance

The stock has a market cap of C$491.01 million, a P/E ratio of -3.15 and a beta of 3.20. The company has a quick ratio of 0.63, a current ratio of 3.70 and a debt-to-equity ratio of 4.68. The business’s 50-day simple moving average is C$1.90 and its two-hundred day simple moving average is C$2.44.

Insider Buying and Selling

In related news, Director Benjamin J. Gagnon acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average price of C$2.26 per share, with a total value of C$113,032.80. In the last ninety days, insiders acquired 77,760 shares of company stock valued at $177,450. Company insiders own 23.38% of the company’s stock.

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.