BIT Mining (NYSE:BTCM) Trading Down 6.6%

BIT Mining Limited (NYSE:BTCM)’s share price fell 6.6% during trading on Monday . The company traded as low as $10.30 and last traded at $10.53. 44,900 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 1,629,998 shares. The stock had previously closed at $11.27.

The firm has a market cap of $612.19 million, a price-to-earnings ratio of -18.09 and a beta of 1.83. The company’s 50-day moving average is $7.22.

BIT Mining (NYSE:BTCM) last posted its quarterly earnings data on Tuesday, August 17th. The company reported $0.03 EPS for the quarter. The business had revenue of $445.11 million during the quarter. BIT Mining had a negative return on equity of 14.90% and a negative net margin of 6.27%.

Institutional investors have recently bought and sold shares of the company. Citigroup Inc. purchased a new stake in shares of BIT Mining in the second quarter valued at approximately $30,000. Itau Unibanco Holding S.A. acquired a new stake in shares of BIT Mining in the second quarter worth approximately $41,000. JPMorgan Chase & Co. acquired a new stake in shares of BIT Mining in the second quarter worth approximately $57,000. Nuveen Asset Management LLC acquired a new stake in shares of BIT Mining in the second quarter worth approximately $155,000. Finally, Invesco Ltd. acquired a new stake in shares of BIT Mining in the second quarter worth approximately $175,000. Institutional investors and hedge funds own 13.33% of the company’s stock.

About BIT Mining (NYSE:BTCM)

BIT Mining Ltd. operates as a cryptocurrency mining enterprise. Its business covers cryptocurrency mining, mining pool, data center operation, and mining machine manufacturing. The company utilizes cryptocurrency mining machines and hydroelectric cryptocurrency mines, the sole purpose of which is to mine bitcoin.

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