Tower Research Capital LLC TRC Makes New Investment in BIT Mining Limited (NYSE:BTCM)

Tower Research Capital LLC TRC purchased a new stake in BIT Mining Limited (NYSE:BTCM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 5,299 shares of the company’s stock, valued at approximately $27,000.

Separately, Cerity Partners LLC acquired a new stake in BIT Mining in the fourth quarter valued at approximately $50,000. 5.34% of the stock is owned by hedge funds and other institutional investors.

BIT Mining Stock Up 3.8 %

Shares of NYSE BTCM traded up $0.10 during midday trading on Friday, reaching $2.75. 104,468 shares of the company were exchanged, compared to its average volume of 149,622. BIT Mining Limited has a one year low of $1.79 and a one year high of $6.95. The stock has a market cap of $30.55 million, a P/E ratio of -2.10 and a beta of 2.58. The stock’s 50-day moving average price is $2.89 and its 200-day moving average price is $3.54.

BIT Mining (NYSE:BTCM) last issued its earnings results on Friday, February 23rd. The company reported ($0.39) earnings per share (EPS) for the quarter. BIT Mining had a negative return on equity of 29.63% and a negative net margin of 6.16%. The firm had revenue of $10.41 million during the quarter, compared to analyst estimates of $77.30 million. During the same period in the previous year, the company earned ($1.92) EPS. On average, equities research analysts anticipate that BIT Mining Limited will post 1 EPS for the current year.

BIT Mining Profile

BIT Mining Limited operates as a cryptocurrency mining company. The company operates through three segments: Mining Pool, Data Center, and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 82.5 megawatts; and mining pool business, including the domain name and the cryptocurrency wallet of BTC.com, as well as purchases and deploys bitcoin mining machines.