Bitfarms (TSE:BITF) Trading Down 2.5% – Should You Sell?

Bitfarms Ltd. (TSE:BITF)’s share price fell 2.5% during trading on Tuesday . The company traded as low as C$4.80 and last traded at C$5.02. 6,303,119 shares changed hands during trading, an increase of 51% from the average session volume of 4,169,260 shares. The stock had previously closed at C$5.15.

Bitfarms Stock Performance

The company has a market capitalization of C$2.77 billion, a price-to-earnings ratio of -31.38 and a beta of 5.44. The stock’s 50 day moving average price is C$4.73 and its 200 day moving average price is C$2.62. The company has a current ratio of 3.70, a quick ratio of 0.63 and a debt-to-equity ratio of 4.68.

Insider Buying and Selling

In other Bitfarms news, insider Marieve Rodrigue sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of C$4.78, for a total value of C$215,100.00. Also, insider Paul Magrath sold 140,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of C$5.51, for a total value of C$771,400.00. Following the sale, the insider owned 10,822 shares in the company, valued at approximately C$59,629.22. This represents a 92.82% decrease in their position. Over the last three months, insiders sold 352,506 shares of company stock valued at $1,775,786. 23.38% of the stock is currently owned by company insiders.

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.