Bitfarms (TSE:BITF) Sets New 52-Week Low – Time to Sell?

Bitfarms Ltd. (TSE:BITF)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as C$1.41 and last traded at C$1.40, with a volume of 2141436 shares traded. The stock had previously closed at C$1.53.

Bitfarms Stock Performance

The firm has a market cap of C$491.01 million, a PE ratio of -3.15 and a beta of 3.20. The company has a quick ratio of 0.63, a current ratio of 3.70 and a debt-to-equity ratio of 4.68. The company has a 50-day simple moving average of C$1.90 and a two-hundred day simple moving average of C$2.44.

Insider Transactions at Bitfarms

In related news, Director Benjamin J. Gagnon purchased 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were bought at an average price of C$2.26 per share, with a total value of C$113,032.80. Insiders have acquired 77,760 shares of company stock worth $177,450 in the last ninety days. Company insiders own 23.38% of the company’s stock.

Bitfarms Company Profile

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.