HC Wainwright Reiterates Neutral Rating for BIT Mining (NYSE:BTCM)

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

BIT Mining Price Performance

NYSE BTCM opened at $2.05 on Wednesday. The firm’s fifty day moving average price is $2.48 and its 200 day moving average price is $2.58. The company has a market capitalization of $30.88 million, a price-to-earnings ratio of -1.56 and a beta of 2.61. BIT Mining has a 12 month low of $1.79 and a 12 month 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 analysts’ expectations of $16.40 million. As a group, sell-side analysts forecast that BIT Mining will post 1 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BIT Mining stock. SBI Securities Co. Ltd. acquired a new position in shares of BIT Mining Limited (NYSE:BTCM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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 filing with the SEC. 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.