Bitfarms (TSE:BITF) Trading Down 2.2%

Bitfarms Ltd. (TSE:BITF) shares traded down 2.2% during mid-day trading on Friday . The company traded as low as C$2.65 and last traded at C$2.68. 1,171,222 shares were traded during mid-day trading, a decline of 74% from the average session volume of 4,488,693 shares. The stock had previously closed at C$2.74.

Wall Street Analysts Forecast Growth

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

Bitfarms Trading Down 2.2 %

The firm has a market capitalization of C$895.52 million, a PE ratio of -4.96 and a beta of 3.40. The company has a quick ratio of 0.63, a current ratio of 1.88 and a debt-to-equity ratio of 6.74. The business’s fifty day moving average price is C$3.25 and its 200 day moving average price is C$2.91.

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.