BIT Mining Limited (NYSE:BTCM) Short Interest Up 8.2% in August

BIT Mining Limited (NYSE:BTCMGet Rating) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,450,000 shares, a growth of 8.2% from the August 15th total of 1,340,000 shares. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.7% of the company’s shares are short sold.

BIT Mining Price Performance

NYSE:BTCM opened at $0.32 on Tuesday. BIT Mining has a fifty-two week low of $0.30 and a fifty-two week high of $10.60. The stock’s 50-day moving average is $0.55 and its two-hundred day moving average is $1.44. The stock has a market cap of $33.74 million, a PE ratio of -0.33 and a beta of 2.57.

BIT Mining (NYSE:BTCMGet Rating) last released its earnings results on Friday, August 19th. The company reported ($0.29) earnings per share for the quarter. BIT Mining had a negative net margin of 4.97% and a negative return on equity of 31.23%. The business had revenue of $195.52 million for the quarter.

Institutional Investors Weigh In On BIT Mining

Institutional investors have recently made changes to their positions in the company. UBS Group AG lifted its holdings in shares of BIT Mining by 105.7% during the 2nd quarter. UBS Group AG now owns 47,038 shares of the company’s stock valued at $29,000 after buying an additional 24,166 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of BIT Mining during the 1st quarter valued at about $51,000. Daiwa Securities Group Inc. lifted its holdings in shares of BIT Mining by 45.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,624 shares of the company’s stock valued at $55,000 after buying an additional 6,159 shares during the last quarter. Jane Street Group LLC lifted its holdings in BIT Mining by 390.4% in the 2nd quarter. Jane Street Group LLC now owns 122,745 shares of the company’s stock worth $76,000 after purchasing an additional 97,715 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in BIT Mining in the 2nd quarter worth approximately $82,000. 18.05% of the stock is currently owned by institutional investors and hedge funds.

BIT Mining Company Profile

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BIT Mining Limited operates as a cryptocurrency mining company. The company operates through three segments: Mining Pool, Data Center, and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 150 megawatts; and mining pool business, including the domain name and the cryptocurrency wallet of BTC.com, as well as purchases and deploys bitcoin mining machines.

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