BIT Mining (NYSE:BTCM) Stock Price Up 4.1% – What’s Next?

BIT Mining Limited Sponsored ADR (NYSE:BTCM)’s share price shot up 4.1% during mid-day trading on Thursday . The company traded as high as $2.07 and last traded at $2.03. 152,403 shares were traded during trading, a decline of 62% from the average session volume of 404,970 shares. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

BTCM has been the subject of several recent research reports. Wall Street Zen upgraded shares of BIT Mining to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of BIT Mining in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

BIT Mining Stock Performance

The company has a market capitalization of $33.17 million, a PE ratio of -2.07 and a beta of 3.34. The stock has a fifty day moving average of $2.65 and a 200 day moving average of $2.54.

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.