BIT Mining’s (BTCM) “Neutral” Rating Reaffirmed at HC Wainwright

BIT Mining (NYSE:BTCM)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports.

BIT Mining Stock Up 3.3 %

Shares of BTCM stock traded up $0.07 during mid-day trading on Wednesday, reaching $2.04. 14,550 shares of the stock traded hands, compared to its average volume of 68,460. The company has a market cap of $30.67 million, a price-to-earnings ratio of -1.55 and a beta of 2.56. The stock’s fifty day simple moving average is $2.51 and its two-hundred day simple moving average is $2.59. BIT Mining has a 1-year low of $1.79 and a 1-year high of $4.27.

BIT Mining (NYSE:BTCM) last posted its earnings results on Friday, February 28th. The company reported ($0.16) EPS for the quarter. The company had revenue of $8.79 million for the quarter, compared to analyst estimates of $16.40 million. On average, equities research analysts anticipate that BIT Mining will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BIT Mining stock. SBI Securities Co. Ltd. bought a new stake in BIT Mining Limited (NYSE:BTCM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,964 shares of the company’s stock, valued at approximately $58,000. SBI Securities Co. Ltd. owned about 0.15% of BIT Mining at the end of the most recent reporting period. Institutional investors and hedge funds 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.