Bitzero (NASDAQ:AIBZ) Shares Down 1.5% – Here’s Why

Bitzero Holdings Inc. (NASDAQ:AIBZ) fell 1.5% during trading on Tuesday. The company traded as low as $2.62 and last traded at $2.66. Approximately 351,068 shares changed hands during trading, an increase of 13% from the average session volume of 310,758 shares. The stock had previously closed at $2.70.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on shares of Bitzero in a research report on Tuesday, October 6th. They issued a “sell (d-)” rating for the company. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Bitzero Price Performance

The firm has a market cap of $144.04 million and a price-to-earnings ratio of -11.08. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $4.02.

About Bitzero

Bitzero is a digital asset infrastructure company focused on cryptocurrency mining and the development of data center facilities. Its business has been described as emphasizing energy-efficient operations, including the use of renewable power and the potential reuse of heat generated by mining and computing equipment.

The company has also pursued data center and digital infrastructure opportunities intended to support blockchain networks and other high-performance computing applications.