Bitfarms (TSE:BITF) Stock Price Up 7.4% – Still a Buy?

Bitfarms Ltd. (TSE:BITF)’s stock price rose 7.4% during trading on Tuesday . The stock traded as high as C$8.59 and last traded at C$8.43. Approximately 7,301,240 shares changed hands during mid-day trading, an increase of 67% from the average daily volume of 4,365,822 shares. The stock had previously closed at C$7.85.

Bitfarms Price Performance

The stock has a market cap of C$5.08 billion, a PE ratio of -16.21 and a beta of 3.41. The company has a debt-to-equity ratio of 141.00, a current ratio of 9.60 and a quick ratio of 0.63. The business has a fifty day moving average of C$4.47 and a 200 day moving average of C$3.84.

Bitfarms (TSE:BITF) last posted its quarterly earnings data on Tuesday, March 31st. The company reported C($0.34) earnings per share (EPS) for the quarter. Bitfarms had a negative return on equity of 56.78% and a negative net margin of 160.41%.The business had revenue of C$68.89 million for the quarter. Sell-side analysts anticipate that Bitfarms Ltd. will post 0.0339165 earnings per share for the current year.

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.