BIT Mining Limited (NYSE:BTCM) Short Interest Update

BIT Mining Limited (NYSE:BTCM) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 129,300 shares, a drop of 28.6% from the August 31st total of 181,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 63,400 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. XTX Topco Ltd purchased a new stake in BIT Mining Limited (NYSE:BTCM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,288 shares of the company’s stock, valued at approximately $59,000. XTX Topco Ltd owned about 0.20% of BIT Mining as of its most recent filing with the Securities and Exchange Commission. 5.34% of the stock is currently owned by hedge funds and other institutional investors.

BIT Mining Stock Performance

NYSE:BTCM traded up $0.05 during mid-day trading on Friday, hitting $2.36. The stock had a trading volume of 38,362 shares, compared to its average volume of 108,646. The company’s 50 day simple moving average is $2.37 and its 200 day simple moving average is $2.63. The stock has a market cap of $26.22 million, a price-to-earnings ratio of -1.80 and a beta of 2.52. BIT Mining has a twelve month low of $1.79 and a twelve month high of $6.95.

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.