BIT Mining (NYSE:BTCM) Earns Neutral Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of BIT Mining (NYSE:BTCM) in a research note published on Wednesday morning,Benzinga reports.

BIT Mining Stock Up 6.6 %

Shares of NYSE BTCM opened at $2.10 on Wednesday. The stock’s fifty day simple moving average is $2.50 and its 200 day simple moving average is $2.59. The stock has a market capitalization of $31.65 million, a price-to-earnings ratio of -1.60 and a beta of 2.56. BIT Mining has a 52-week low of $1.79 and a 52-week high of $4.27.

BIT Mining (NYSE:BTCM) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.16) earnings per share for the quarter. The company had revenue of $8.79 million during the quarter, compared to analysts’ expectations of $16.40 million. As a group, analysts anticipate that BIT Mining will post 1 earnings per share for the current year.

Institutional Investors Weigh In On BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. SBI Securities Co. Ltd. bought a new stake in shares of BIT Mining Limited (NYSE:BTCM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,964 shares of the company’s stock, valued at approximately $58,000. SBI Securities Co. Ltd. owned 0.15% of BIT Mining as of its most recent SEC filing. 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.