BIT Mining (NYSE:BTCM) Stock Price Down 10.7%

BIT Mining Limited (NYSE:BTCM)’s share price was down 10.7% on Friday . The stock traded as low as $2.60 and last traded at $2.63. Approximately 91,639 shares traded hands during trading, a decline of 31% from the average daily volume of 132,525 shares. The stock had previously closed at $2.94.

BIT Mining Stock Performance

The firm has a 50 day simple moving average of $2.73 and a two-hundred day simple moving average of $3.43. The stock has a market cap of $29.17 million, a P/E ratio of -2.00 and a beta of 2.53.

Institutional Trading of BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. Cerity Partners LLC acquired a new position in BIT Mining Limited (NYSE:BTCM) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,000 shares of the company’s stock, valued at approximately $50,000. Cerity Partners LLC owned approximately 0.09% of BIT Mining as of its most recent filing with the SEC. Institutional investors own 5.34% of the company’s stock.

About BIT Mining

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.