BIT Mining (NYSE:BTCM) Stock Price Up 3.5%

BIT Mining Limited (NYSE:BTCM)’s stock price rose 3.5% during mid-day trading on Tuesday . The company traded as high as $2.10 and last traded at $2.08. Approximately 14,052 shares traded hands during trading, a decline of 88% from the average daily volume of 114,419 shares. The stock had previously closed at $2.01.

BIT Mining Stock Up 4.4 %

The firm has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $2.72. The company has a market cap of $23.89 million, a price-to-earnings ratio of -1.64 and a beta of 2.52.

Hedge Funds Weigh In On BIT Mining

An institutional investor recently bought a new position in BIT Mining stock. XTX Topco Ltd acquired a new position in shares of BIT Mining Limited (NYSE:BTCM) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 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. 5.34% of the stock is currently owned by institutional investors and hedge funds.

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.