ATB Capital Lowers Bitfarms (TSE:BITF) Price Target to C$3.75

Bitfarms (TSE:BITF) had its price target lowered by stock analysts at ATB Capital from C$6.50 to C$3.75 in a research report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Capital’s price objective indicates a potential upside of 215.13% from the stock’s previous close.

Bitfarms Stock Down 12.5 %

Shares of TSE:BITF traded down C$0.17 during trading on Friday, hitting C$1.19. The company’s stock had a trading volume of 1,390,744 shares, compared to its average volume of 2,484,528. Bitfarms has a fifty-two week low of C$1.18 and a fifty-two week high of C$4.49. The business has a 50 day moving average price of C$1.86 and a two-hundred day moving average price of C$2.43. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.63 and a current ratio of 3.70. The company has a market capitalization of C$417.36 million, a PE ratio of -2.68 and a beta of 3.20.

Insider Buying and Selling at Bitfarms

In other news, Director Benjamin J. Gagnon bought 50,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were acquired at an average price of C$2.26 per share, for a total transaction of C$113,032.80. Insiders have acquired a total of 67,760 shares of company stock worth $153,402 over the last ninety days. 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.