Bitfarms (TSE:BITF) Trading Down 4.6% – Should You Sell?

Bitfarms Ltd. (TSE:BITF) fell 4.6% during trading on Monday . The company traded as low as C$2.47 and last traded at C$2.47. 379,794 shares changed hands during trading, a decline of 90% from the average session volume of 3,669,390 shares. The stock had previously closed at C$2.59.

Bitfarms Stock Up 5.0 %

The firm’s 50 day moving average price is C$2.73 and its two-hundred day moving average price is C$3.04. The firm has a market capitalization of C$1.15 billion, a PE ratio of -5.06 and a beta of 3.20. The company has a quick ratio of 0.63, a current ratio of 5.11 and a debt-to-equity ratio of 3.35.

Insiders Place Their Bets

In other Bitfarms news, insider Riot Platforms, Inc. bought 27,300 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of C$2.30 per share, with a total value of C$62,653.50. Insiders have bought 36,380 shares of company stock worth $86,456 in the last quarter. 23.38% of the stock is 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.