Bitfarms Ltd. (TSE:BITF – Get Free Report) was up 6.7% on Friday. The stock hit a high of C$3.81 and was last traded at C$3.80. About 288,582 shares were traded during midday trading, a decline of 93% from its average daily volume of 4,083,067 shares. The stock previously closed at C$3.56.

Changes in analyst ratings

Separately, ATB Capital raised their price target on Bitfarms from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research report on Wednesday, June 19.

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Bitfarms trades up 4.8%

The company has a current ratio of 1.88, a quick ratio of 0.63 and a debt-to-equity ratio of 6.74. The company has a market cap of C$1.40 billion, a PE ratio of -6.78 and a beta of 3.33. The stock has a 50-day moving average price of C$3.48 and a 200-day moving average price of C$3.27.

Insider Activity at Bitfarms

In related news, Senior Officer Benoit Gobeil sold 42,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of C$3.43, for a total transaction of C$145,775.00. In related news, insider Riot Platforms, Inc. acquired 52,600 shares of Bitfarms in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average price of C$2.14 per share, for a total value of C$112,564.00. Also, Senior Officer Benoit Gobeil sold 42,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of C$3.43, for a total value of C$145,775.00. Insiders bought a total of 54,432 shares of the company’s stock worth $117,100 in the last 90 days. Corporate insiders own 4.42% of the company’s stock.

Bitfarms Company Profile

(Get free report)

Bitfarms Ltd. is engaged in mining cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validate transactions on the Bitcoin Blockchain and earn cryptocurrency through block rewards and transaction fees. The company also provides electrical services to commercial and residential customers in Quebec, Canada.

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