Bitfarms (TSE:BITF) Shares Down 2.2%

Bitfarms Ltd. (TSE:BITF) fell 2.2% during mid-day trading on Friday . The stock traded as low as C$2.65 and last traded at C$2.68. 1,171,222 shares were traded during trading, a decline of 74% from the average session volume of 4,488,693 shares. The stock had previously closed at C$2.74.

Analyst Ratings Changes

Separately, ATB Capital set a C$6.50 price objective on shares of Bitfarms and gave the company an “outperform” rating in a research report on Monday, April 1st.

Bitfarms Stock Performance

The firm has a fifty day simple moving average of C$3.25 and a 200-day simple moving average of C$2.90. The stock has a market cap of C$895.52 million, a price-to-earnings ratio of -4.96 and a beta of 3.40. The company has a current ratio of 1.88, a quick ratio of 0.63 and a debt-to-equity ratio of 6.74.

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.