BIT Mining (NYSE:BTCM) Given Neutral Rating at HC Wainwright

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

BIT Mining Stock Down 2.2 %

BTCM stock traded down $0.03 during midday trading on Friday, reaching $1.36. 8,776 shares of the company’s stock traded hands, compared to its average volume of 115,291. The firm’s fifty day moving average price is $1.96 and its 200-day moving average price is $2.49. BIT Mining has a 52 week low of $1.23 and a 52 week high of $4.27. The company has a market cap of $20.50 million, a price-to-earnings ratio of -1.04 and a beta of 2.76.

BIT Mining (NYSE:BTCM) last posted its 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 for the quarter, compared to the consensus estimate of $16.40 million. Analysts forecast that BIT Mining will post 1 earnings per share for the current year.

Institutional Investors Weigh In On BIT Mining

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 fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 5.34% of the stock is currently owned by institutional investors.

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.