Bitfarms (TSE:BITF) Shares Up 7.4% – Here’s What Happened

Bitfarms Ltd. (TSE:BITF)’s share price traded up 7.4% during trading on Tuesday . The company traded as high as C$8.59 and last traded at C$8.43. 7,301,240 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 4,365,822 shares. The stock had previously closed at C$7.85.

Bitfarms Trading Up 0.7%

The company has a debt-to-equity ratio of 141.00, a current ratio of 9.60 and a quick ratio of 0.63. The company has a market capitalization of C$5.12 billion, a price-to-earnings ratio of -16.33 and a beta of 3.41. The business has a fifty day moving average price of C$4.69 and a 200 day moving average price of C$3.91.

Bitfarms (TSE:BITF) last announced its earnings results on Tuesday, March 31st. The company reported C($0.34) earnings per share (EPS) for the quarter. Bitfarms had a negative return on equity of 56.78% and a negative net margin of 160.41%.The company had revenue of C$68.89 million for the quarter. On average, equities analysts expect that Bitfarms Ltd. will post 0.0339165 EPS for the current fiscal year.

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.