Bitfarms (TSE:BITF) Stock Price Down 4.3% – Here’s Why

Shares of Bitfarms Ltd. (TSE:BITF) fell 4.3% on Friday . The company traded as low as C$2.70 and last traded at C$2.70. 165,364 shares were traded during trading, a decline of 96% from the average session volume of 4,347,393 shares. The stock had previously closed at C$2.82.

Bitfarms Trading Down 3.5%

The business has a 50 day moving average of C$3.12 and a two-hundred day moving average of C$3.97. The firm has a market cap of C$1.64 billion, a P/E ratio of -11.83 and a beta of 3.64. The company has a current ratio of 3.20, a quick ratio of 0.63 and a debt-to-equity ratio of 12.05.

Insider Activity at Bitfarms

In other news, Director Brian Howlett sold 88,239 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of C$4.30, for a total value of C$379,427.70. Following the transaction, the director directly owned 144,946 shares of the company’s stock, valued at C$623,267.80. This represents a 37.84% decrease in their ownership of the stock. 23.38% of the stock is currently owned by corporate insiders.

Bitfarms Company Profile

Bitfarms is a global, publicly traded (NASDAQ/TSX: BITF) Bitcoin mining company. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Companyâ¿¿s proprietary data analytics system delivers best-in-class operational performance and uptime.Bitfarms currently has 10 farms, which are located in four countries: Canada, the United States, Paraguay, and Argentina.