BIT Mining Limited Sponsored ADR (NYSE:BTCM – Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 673,600 shares, an increase of 136.4% from the August 31st total of 284,900 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily trading volume, of 3,580,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 3,580,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 4.4% of the shares of the company are sold short.
BIT Mining Stock Performance
NYSE BTCM opened at $2.82 on Monday. BIT Mining has a 1 year low of $1.22 and a 1 year high of $8.07. The business’s fifty day moving average is $2.82 and its two-hundred day moving average is $2.38. The stock has a market capitalization of $46.05 million, a P/E ratio of -2.15 and a beta of 3.34.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BTCM. Wall Street Zen raised shares of BIT Mining to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of BIT Mining in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.
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.
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