BIT Mining Limited (NYSE:BTCM) price on Thursday, August 26, fall -4.94% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.08.
A look at the stock’s price movement, the close in the last trading session was $8.50, moving within a range at $7.82 and $8.55. The beta value (5-Year monthly) was 1.78. Turning to its 52-week performance, $35.00 and $2.51 were the 52-week high and 52-week low respectively. Overall, BTCM moved 56.29% over the past month.
BIT Mining Limited’s market cap currently stands at around $443.27 million.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that BTCM is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 0 recommend BTCM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Sell which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BTCM’s current price about 20.00% and 21.61% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 58.93, while 7-day volatility ratio is 11.75% and 12.82% in the 30-day chart. Further, BIT Mining Limited (BTCM) has a beta value of 1.69, and an average true range (ATR) of 0.85. Analysts have given the company’s stock an average 52-week price target of $87.89, forecast between a low of $87.89 and high of $87.89. Looking at the price targets, the low is -987.75% off current price level while to achieve the yearly target high, price needs to move -987.75%. Nonetheless, investors will most likely welcome a -987.75% jump to $87.89 which is the analysts’ median price.
In the market, a comparison of BIT Mining Limited (BTCM) and its peers suggest the former has performed considerably weaker. Data shows BTCM’s intraday price has changed -4.94% in last session and 121.98% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.58% and -0.54% respectively in the last trading.
If we refocus on BIT Mining Limited (NYSE:BTCM), historical trading data shows that trading volumes averaged 2.78 million over the past 10 days and 1.80 million over the past 3 months. The company’s latest data on shares outstanding shows there are 48.76 million shares.
The 5.30% of BIT Mining Limited’s shares are in the hands of company insiders while institutional holders own 9.60% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.98 million on May 27, 2021, giving us a short ratio of 3.09. The data shows that as of May 27, 2021 short interest in BIT Mining Limited (BTCM) stood at 3.53% of shares outstanding, with shares short rising to 1.61 million registered in Apr 29, 2021. Current price change has pushed the stock -10.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BTCM stock continues to rise going into the next quarter.