BIT Mining Limited (NYSE:BTCM) Short Interest Update

BIT Mining Limited (NYSE:BTCM) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 157,600 shares, a growth of 25.5% from the November 30th total of 125,600 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 239,900 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “neutral” rating on shares of BIT Mining in a report on Thursday, December 5th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BIT Mining stock. XTX Topco Ltd bought a new position in BIT Mining Limited (NYSE:BTCM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,288 shares of the company’s stock, valued at approximately $59,000. XTX Topco Ltd owned about 0.20% of BIT Mining at the end of the most recent quarter. 5.34% of the stock is owned by hedge funds and other institutional investors.

BIT Mining Price Performance

BTCM stock opened at $2.64 on Tuesday. The firm has a fifty day moving average price of $2.96 and a two-hundred day moving average price of $2.68. BIT Mining has a 1-year low of $1.79 and a 1-year high of $5.71. The firm has a market cap of $29.34 million, a price-to-earnings ratio of -2.02 and a beta 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.