BIT Mining (NYSE:BTCM) Shares Down 1.1%

BIT Mining Limited (NYSE:BTCMGet Free Report)’s stock price was down 1.1% during trading on Friday . The company traded as low as $2.55 and last traded at $2.60. Approximately 75,356 shares traded hands during trading, a decline of 46% from the average daily volume of 138,707 shares. The stock had previously closed at $2.63.

BIT Mining Price Performance

The stock’s 50-day moving average is $2.64 and its 200 day moving average is $3.49. The company has a market cap of $28.89 million, a PE ratio of -1.98 and a beta of 2.53.

Institutional Investors Weigh In On BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. Tower Research Capital LLC TRC purchased a new stake in shares of BIT Mining Limited (NYSE:BTCMFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,299 shares of the company’s stock, valued at approximately $27,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

About BIT Mining

(Get Free Report)

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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