BIT Mining (NYSE:BTCM) Stock Price Down 10.7%

BIT Mining Limited (NYSE:BTCM)’s share price fell 10.7% on Friday . The company traded as low as $2.60 and last traded at $2.63. 91,639 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 132,525 shares. The stock had previously closed at $2.94.

BIT Mining Price Performance

The stock has a market capitalization of $29.17 million, a PE ratio of -2.00 and a beta of 2.53. The stock has a 50 day moving average of $2.73 and a two-hundred day moving average of $3.43.

Institutional Trading of BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. Tower Research Capital LLC TRC bought a new position in shares of 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 5,299 shares of the company’s stock, valued at approximately $27,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

About BIT Mining

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.