BIT Mining Limited (NYSE:BTCM) Short Interest Update

BIT Mining Limited (NYSE:BTCM) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 346,200 shares, an increase of 147.6% from the October 31st total of 139,800 shares. Based on an average daily volume of 174,700 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.2% of the shares of the company are sold short.

BIT Mining Stock Performance

NYSE:BTCM opened at $3.12 on Friday. The business’s fifty day moving average is $2.62 and its 200 day moving average is $2.61. The firm has a market cap of $34.66 million, a price-to-earnings ratio of -2.38 and a beta of 2.50. BIT Mining has a 52-week low of $1.79 and a 52-week high of $6.95.

Institutional Investors Weigh In On BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. XTX Topco Ltd bought a new position in shares of BIT Mining Limited (NYSE:BTCM) during the second quarter, according to the company in its most recent disclosure 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 0.20% of BIT Mining at the end of the most recent quarter. Hedge funds and other institutional investors own 5.34% of the company’s stock.

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.