Bitfarms (TSE:BITF) Shares Down 6.5%

Bitfarms Ltd. (TSE:BITFGet Free Report)’s stock price fell 6.5% during mid-day trading on Tuesday . The company traded as low as C$2.88 and last traded at C$2.89. 958,984 shares changed hands during trading, a decline of 81% from the average session volume of 5,032,171 shares. The stock had previously closed at C$3.09.

Wall Street Analyst Weigh In

Separately, ATB Capital set a C$6.50 price target on Bitfarms and gave the company an “outperform” rating in a report on Monday.

Get Our Latest Research Report on BITF

Bitfarms Stock Performance

The stock has a market capitalization of C$999.11 million, a P/E ratio of -5.54 and a beta of 3.40. The company has a quick ratio of 0.63, a current ratio of 1.88 and a debt-to-equity ratio of 6.74. The business has a fifty day moving average price of C$3.54 and a 200-day moving average price of C$2.76.

Bitfarms Company Profile

(Get Free Report)

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.

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