Bitfarms Ltd. (TSE:BITF) Insider Buys C$112,564.00 in Stock

Bitfarms Ltd. (TSE:BITF) insider Riot Platforms, Inc. purchased 52,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of C$2.14 per share, with a total value of C$112,564.00.

Riot Platforms, Inc. also recently made the following trade(s):

• On Monday, June 3rd, Riot Platforms, Inc. purchased 700 shares of Bitfarms stock. The stock was acquired at an average cost of C$2.34 per share, with a total value of C$1,637.65.

Bitfarms Stock Performance

Bitfarms stock opened at C$3.94 on Friday. The stock has a 50-day simple moving average of C$2.77 and a 200 day simple moving average of C$3.21. The company has a quick ratio of 0.63, a current ratio of 1.88 and a debt-to-equity ratio of 6.74. Bitfarms Ltd. has a 12-month low of C$1.26 and a 12-month high of C$5.25. The stock has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -7.16 and a beta of 3.33.

Wall Street Analysts Forecast Growth

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

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.