BIT Mining (BTCM) to Release Quarterly Earnings on Friday

BIT Mining (NYSE:BTCM) is set to release its earnings data after the market closes on Friday, November 17th. Analysts expect BIT Mining to post earnings of ($0.25) per share for the quarter.

BIT Mining (NYSE:BTCM) last announced its quarterly earnings data on Friday, August 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.09. BIT Mining had a negative net margin of 49.66% and a negative return on equity of 61.29%. The business had revenue of $74.07 million for the quarter, compared to the consensus estimate of $72.60 million. On average, analysts expect BIT Mining to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BIT Mining Price Performance

Shares of BIT Mining stock opened at $2.77 on Monday. The firm has a fifty day moving average price of $2.88 and a two-hundred day moving average price of $2.99. BIT Mining has a fifty-two week low of $1.40 and a fifty-two week high of $5.49. The company has a market cap of $30.77 million, a PE ratio of -0.19 and a beta of 2.77.

Institutional Trading of BIT Mining

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in BIT Mining by 2,768.8% during the 2nd quarter. Renaissance Technologies LLC now owns 521,169 shares of the company’s stock worth $323,000 after acquiring an additional 503,002 shares during the last quarter. Vident Investment Advisory LLC bought a new stake in shares of BIT Mining during the first quarter worth $941,000. Millennium Management LLC acquired a new stake in shares of BIT Mining in the second quarter valued at $82,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of BIT Mining by 88.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 225,049 shares of the company’s stock valued at $628,000 after buying an additional 105,644 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of BIT Mining by 390.4% in the second quarter. Jane Street Group LLC now owns 122,745 shares of the company’s stock valued at $76,000 after buying an additional 97,715 shares during the last quarter. 3.63% of the stock is currently owned by institutional investors.

About BIT Mining

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 82.5 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.