BIT Mining Limited (NYSE:BTCM – Get Rating)'s share price traded down 1.3% during trading on Friday . The company traded as low as $3.65 and last traded at $3.81. 244,134 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,664,989 shares. The stock had previously closed at $3.86.
Analyst Upgrades and Downgrades
Separately, HC Wainwright began coverage on shares of BIT Mining in a report on Thursday, December 22nd. They issued a "neutral" rating on the stock.
Get BIT Mining alerts:BIT Mining Stock Down 1.3 %
The company's fifty day simple moving average is $2.50 and its 200-day simple moving average is $3.34.
BIT Mining (NYSE:BTCM – Get Rating) last posted its quarterly earnings data on Thursday, November 17th. The company reported ($2.30) earnings per share for the quarter. BIT Mining had a negative return on equity of 28.92% and a negative net margin of 5.07%. The business had revenue of $96.99 million during the quarter. As a group, sell-side analysts anticipate that BIT Mining Limited will post -1.23 EPS for the current fiscal year.Institutional Investors Weigh In On BIT Mining
Several institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of BIT Mining during the first quarter valued at about $51,000. UBS Group AG lifted its stake in shares of BIT Mining by 1,519.8% during the first quarter. UBS Group AG now owns 22,872 shares of the company's stock worth $64,000 after buying an additional 21,460 shares during the period. Penserra Capital Management LLC lifted its stake in shares of BIT Mining by 36.9% during the first quarter. Penserra Capital Management LLC now owns 40,199 shares of the company's stock worth $112,000 after buying an additional 10,839 shares during the period. Virtu Financial LLC increased its position in shares of BIT Mining by 224.1% in the 1st quarter. Virtu Financial LLC now owns 61,397 shares of the company's stock valued at $171,000 after acquiring an additional 42,451 shares during the period. Finally, Jane Street Group LLC raised its stake in BIT Mining by 390.4% in the 2nd quarter. Jane Street Group LLC now owns 122,745 shares of the company's stock worth $76,000 after acquiring an additional 97,715 shares during the last quarter. Institutional investors and hedge funds own 7.67% of the company's stock.
BIT Mining Company Profile
(Get Rating)
BIT Mining Ltd. operates as a cryptocurrency mining enterprise. Its business covers cryptocurrency mining, pool, machine manufacturing, and data center operation. The company utilizes cryptocurrency mining machines and hydroelectric cryptocurrency mines, the sole purpose of which is to mine bitcoin. It also owns the mining pool business operated under BTC.com, including the domain name and wallet.
See Also
- Get a free copy of the StockNews.com research report on BIT Mining (BTCM)
- MarketBeat Week in Review – 1/30 – 2/3
- Are Penny Stocks Worth it? Should You Invest in Penny Stocks?
- Zimmer Biomet Beats on Earnings, Growth May be Priced In
- AI Software Maker EPAM Boasts Biggest Tech-Sector Rally
- Ford Stock Going Forward After Big Earnings Flop
Receive News & Ratings for BIT Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BIT Mining and related companies with MarketBeat.com's FREE daily email newsletter.