In yesterday’s Wall Street session, BIT Mining Limited (NYSE:BTCM) shares traded at $3.07, up 42.13% from the previous session.
As of this writing, 1 analysts cover BIT Mining Limited (NYSE:BTCM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $878.95 and a low of $878.95, we find $878.95. Given the previous closing price of $2.16, this indicates a potential upside of 40592.13 percent. BTCM stock price is now 50.01% away from the 50-day moving average and -63.62% away from the 200-day moving average. The market capitalization of the company currently stands at $19.40M.
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There are 1 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $878.95 as their price target over the next twelve months.
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A total of 3.37% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BTCM stock. A new stake in BIT Mining Limited shares was purchased by AYRTON CAPITAL LLC during the first quarter worth $111,000. CITADEL ADVISORS LLC invested $46,000 in shares of BTCM during the first quarter. In the first quarter, VIRTU FINANCIAL LLC acquired a new stake in BIT Mining Limited valued at approximately $9,000. In total, there are 37 active investors with 9.40% ownership of the company’s stock.
Friday morning saw BIT Mining Limited (NYSE: BTCM) opened at $2.1000. During the past 12 months, BIT Mining Limited has had a low of $1.40 and a high of $57.20. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.00, and a quick ratio of 2.00. The fifty day moving average price for BTCM is $2.0650 and a two-hundred day moving average price translates $8.3033 for the stock.
The latest earnings results from BIT Mining Limited (NYSE: BTCM) was released for Jun, 2022. According to the Information Technology Services Company, earnings per share came in at -$0.18, missing analysts’ expectations of -$0.07 by -0.11. This compares to -$0.10 EPS in the same period last year. The company reported revenue of $96.99 million for the quarter, compared to $393.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -75.33 percent. For the current quarter, analysts expect BTCM to generate $63.95M in revenue.
BIT Mining Limited(BTCM) Company Profile
BIT Mining Limited operates as a cryptocurrency mining company. The company operates through three segments: Mining Pool, Data Center, and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 150 megawatts; and mining pool business, including the domain name and the cryptocurrency wallet of BTC.com, as well as purchases and deploys bitcoin mining machines. The company was formerly known as 500.com Limited and changed its name to BIT Mining Limited in April 2021. BIT Mining Limited was founded in 2001 and is headquartered in Hong Kong.
