BTC Development (NASDAQ:BDCI) Stock Price Down 0.1% – Time to Sell?

BTC Development Corp. (NASDAQ:BDCI)’s stock price fell 0.1% on Thursday . The company traded as low as $10.02 and last traded at $10.02. 5,424 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 34,838 shares. The stock had previously closed at $10.03.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BDCI. Wall Street Zen upgraded shares of BTC Development to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings began coverage on shares of BTC Development in a research note on Monday, January 12th. They issued a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

BTC Development Stock Down 0.1%

The business has a 50-day moving average price of $10.05.

Institutional Investors Weigh In On BTC Development

Institutional investors have recently modified their holdings of the business. ABC Arbitrage SA acquired a new position in BTC Development in the fourth quarter valued at approximately $200,000. Picton Mahoney Asset Management bought a new stake in shares of BTC Development during the 4th quarter valued at $200,000. Crossingbridge Advisors LLC acquired a new position in shares of BTC Development in the 4th quarter valued at $250,000. Boothbay Fund Management LLC bought a new position in shares of BTC Development in the 4th quarter worth $350,000. Finally, StoneX Group Inc. bought a new position in shares of BTC Development in the 4th quarter worth $526,000.

BTC Development Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination involving one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with respect to identifying any acquisition target.