BIT Mining Limited (NYSE:BTCM) Short Interest Update

BIT Mining Limited (NYSE:BTCM) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 154,800 shares, a decline of 5.3% from the September 30th total of 163,400 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 52,000 shares, the days-to-cover ratio is presently 3.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BIT Mining stock. XTX Topco Ltd purchased a new stake in shares of BIT Mining Limited (NYSE:BTCM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,288 shares of the company’s stock, valued at approximately $59,000. XTX Topco Ltd owned about 0.20% of BIT Mining as of its most recent SEC filing. 5.34% of the stock is owned by institutional investors and hedge funds.

BIT Mining Stock Down 8.8 %

Shares of BTCM traded down $0.25 during trading hours on Thursday, hitting $2.60. The company had a trading volume of 58,717 shares, compared to its average volume of 103,231. BIT Mining has a 52-week low of $1.79 and a 52-week high of $6.95. The stock’s 50 day moving average price is $2.35 and its 200 day moving average price is $2.57. The firm has a market cap of $28.89 million, a P/E ratio of -1.98 and a beta of 2.51.

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.