Bitfarms (TSE:BITF) Trading Down 4.3% – Time to Sell?

Shares of Bitfarms Ltd. (TSE:BITF) fell 4.3% during trading on Friday . The stock traded as low as C$2.70 and last traded at C$2.70. 165,364 shares traded hands during mid-day 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 Stock Performance

The company has a current ratio of 3.20, a quick ratio of 0.63 and a debt-to-equity ratio of 12.05. The stock has a market cap of C$1.65 billion, a price-to-earnings ratio of -11.91 and a beta of 3.64. The stock’s 50 day moving average is C$3.09 and its two-hundred day moving average is C$3.99.

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 transaction of C$379,427.70. Following the completion of the sale, the director owned 144,946 shares in the company, valued at approximately C$623,267.80. This represents a 37.84% decrease in their ownership of the stock. Insiders own 23.38% of the company’s stock.

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.