Bitfarms (TSE:BITF) Stock Price Up 6% – What’s Next?

Bitfarms Ltd. (TSE:BITF) shares shot up 6% during trading on Thursday . The stock traded as high as C$3.94 and last traded at C$3.89. 922,107 shares traded hands during trading, a decline of 78% from the average session volume of 4,233,362 shares. The stock had previously closed at C$3.67.

Bitfarms Trading Down 6.3%

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 business’s fifty day moving average is C$5.03 and its two-hundred day moving average is C$2.76. The firm has a market cap of C$2.04 billion, a price-to-earnings ratio of -14.87 and a beta of 5.44.

Bitfarms (TSE:BITF) last announced its quarterly earnings data on Thursday, November 13th. The company reported C($0.15) EPS for the quarter. The firm had revenue of C$96.42 million during the quarter. Bitfarms had a negative net margin of 69.20% and a negative return on equity of 30.76%. Equities analysts anticipate that Bitfarms Ltd. will post 0.0339165 earnings per share for the current fiscal year.

Insider Transactions at Bitfarms

In other Bitfarms news, insider Guillaume Reeves sold 35,000 shares of the business’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of C$5.24, for a total transaction of C$183,400.00. Also, insider Paul Magrath sold 140,000 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of C$5.51, for a total transaction of C$771,400.00. Following the completion of the transaction, the insider directly owned 10,822 shares in the company, valued at C$59,629.22. This trade represents a 92.82% decrease in their position. Insiders have sold 342,500 shares of company stock valued at $1,758,075 in the last three months. Company insiders own 23.38% of the company’s stock.

Bitfarms Company Profile

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.