Bitfarms (TSE:BITF) Stock Price Up 5% – Time to Buy?

Bitfarms Ltd. (TSE:BITF) shares rose 5% during mid-day trading on Wednesday . The stock traded as high as C$3.28 and last traded at C$3.16. Approximately 5,044,554 shares were traded during trading, an increase of 10% from the average daily volume of 4,600,292 shares. The stock had previously closed at C$3.01.

Bitfarms Stock Performance

The company has a current ratio of 3.70, a quick ratio of 0.63 and a debt-to-equity ratio of 4.68. The firm has a market cap of C$1.89 billion, a PE ratio of -13.74 and a beta of 4.13. The stock’s 50 day moving average price is C$3.40 and its 200 day moving average price is C$3.80.

Insider Buying and Selling

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

About Bitfarms

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.