As of Thursday, BIT Mining Limited’s (NYSE:BTCM) stock closed at $2.34, down from $2.39 the previous day. While BIT Mining Limited has underperformed by -2.09%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BTCM fell by -91.79%, with highs and lows ranging from $28.20 to $1.40, whereas the simple moving average fell by -35.41% in the last 200 days.
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Analysis of BIT Mining Limited (BTCM)
Further, the quarter-over-quarter decrease in sales is -95.40%, showing a negative trend in the upcoming months.
One of the most important indicators of BIT Mining Limited’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -120.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and BTCM is recording 718.88K average volume. On a monthly basis, the volatility of the stock is set at 12.03%, whereas on a weekly basis, it is put at 8.51%, with a loss of -2.50% over the past seven days.
How Do You Analyze BIT Mining Limited Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.76%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 9.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BTCM shares?
The recent increase in stakes in BTCM appears to be a result of several institutional investors and hedge funds increasing their positions. Renaissance Technologies LLC’s position in BTCM has increased by 220.62% in the first quarter. The company now owns 72,910 shares of the stock, with a value of $0.2 million, following the purchase of 50,170 additional shares during the last quarter. Millennium Management LLC made another decreased to its shares in BTCM during the first quarter, downing its stake by -65.82%. During the last quarter, the company dropped down -52,012 additional shares for a total stake of worth $74534.0, bringing number of shares owned by the company to 27,005.
During the first quarter, Susquehanna Financial Group LLLP subtracted a -1,078 position in BTCM. Group One Trading LP purchased an additional 577.0 shares in the last quarter, increasing its holdings by 2.50%, now holding 23624.0 shares worth $65202.0. At the end of the first quarter, Lumyna Investments Ltd. increased its BTCM holdings by 174.71% and now holds 15991.0 BTCM shares valued at $44135.0 with the added 10170.0 shares during the period. BTCM shares are owned by institutional investors to the tune of 9.40% at present.
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