BIT Mining Limited (NYSE:BTCM) Short Interest Up 147.6% in November

BIT Mining Limited (NYSE:BTCM) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 346,200 shares, a growth 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 currently 2.0 days. Currently, 3.2% of the shares of the company are sold short.

Institutional Investors Weigh In On BIT Mining

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

BIT Mining Price Performance

Shares of NYSE BTCM opened at $3.12 on Friday. The stock has a market capitalization of $34.66 million, a PE ratio of -2.38 and a beta of 2.50. BIT Mining has a one year low of $1.79 and a one year high of $6.95. The business’s fifty day moving average price is $2.62 and its 200-day moving average price is $2.61.

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.