BIT Mining (NYSE:BTCM) Stock Price Up 2.8% – Here’s What Happened

BIT Mining Limited (NYSE:BTCM)’s stock price shot up 2.8% on Tuesday . The stock traded as high as $1.78 and last traded at $1.77. 12,450 shares were traded during trading, a decline of 89% from the average session volume of 116,529 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “neutral” rating on shares of BIT Mining in a report on Wednesday, March 5th.

BIT Mining Stock Up 2.8 %

The business has a fifty day moving average of $2.18 and a 200 day moving average of $2.54. The firm has a market cap of $26.66 million, a P/E ratio of -1.35 and a beta of 2.61.

BIT Mining (NYSE:BTCM) last issued its earnings results on Friday, February 28th. The company reported ($0.16) EPS for the quarter. The firm had revenue of $8.79 million during the quarter, compared to the consensus estimate of $16.40 million. Research analysts expect that BIT Mining Limited will post 1 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BIT Mining stock. SBI Securities Co. Ltd. purchased a new stake in BIT Mining Limited (NYSE:BTCM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,964 shares of the company’s stock, valued at approximately $58,000. SBI Securities Co. Ltd. owned approximately 0.15% of BIT Mining as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.34% of the company’s stock.

BIT Mining Company Profile

BIT Mining Limited operates as a cryptocurrency mining company in the Mainland China, the United States, and Hong Kong. The company operates in two segments: Data Center and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 82.5 megawatts; and purchases and deploys bitcoin mining machines.