BIT Mining Limited (NYSE:BTCM) Short Interest Up 25.5% in December

BIT Mining Limited (NYSE:BTCM) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 157,600 shares, an increase of 25.5% from the November 30th total of 125,600 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 239,900 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of BIT Mining

An institutional investor recently bought a new position in BIT Mining stock. XTX Topco Ltd bought a new position in BIT Mining Limited (NYSE:BTCM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,288 shares of the company’s stock, valued at approximately $59,000. XTX Topco Ltd owned about 0.20% of BIT Mining at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.34% of the company’s stock.

BIT Mining Price Performance

Shares of BIT Mining stock opened at $2.64 on Tuesday. BIT Mining has a fifty-two week low of $1.79 and a fifty-two week high of $5.71. The firm has a market capitalization of $29.34 million, a P/E ratio of -2.02 and a beta of 2.54. The company’s 50 day moving average price is $2.96 and its two-hundred day moving average price is $2.68.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “neutral” rating on shares of BIT Mining in a report on Thursday, December 5th.

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.