BIT Mining (NYSE:BTCM) Stock Price Down 5.2% – Here’s What Happened

Shares of BIT Mining Limited Sponsored ADR (NYSE:BTCM) traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $2.62 and last traded at $2.64. 304,208 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 942,034 shares. The stock had previously closed at $2.78.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of BIT Mining to a “hold” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

BIT Mining Stock Performance

The stock has a market capitalization of $43.06 million, a P/E ratio of -2.01 and a beta of 3.35. The company’s 50-day moving average price is $2.98 and its 200 day moving average price is $2.33.

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.