Short Interest in BIT Mining Limited (NYSE:BTCM) Rises By 147.6%

BIT Mining Limited (NYSE:BTCM) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 346,200 shares, an increase of 147.6% from the October 31st total of 139,800 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 174,700 shares, the days-to-cover ratio is currently 2.0 days.

BIT Mining Stock Up 9.1 %

NYSE:BTCM opened at $3.12 on Friday. The stock has a market cap of $34.66 million, a P/E ratio of -2.38 and a beta of 2.50. The business’s 50-day moving average price is $2.62 and its two-hundred day moving average price is $2.61. BIT Mining has a twelve month low of $1.79 and a twelve month high of $6.95.

Institutional Investors Weigh In On BIT Mining

A hedge fund recently bought a new stake in BIT Mining stock. XTX Topco Ltd acquired a new stake in shares of BIT Mining Limited (NYSE:BTCM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 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 filing with the SEC. 5.34% of the stock is owned by institutional investors.

About BIT Mining

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.