Additionally, the 36-month beta value for BTCM is 2.66. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for BTCM is 10.76M and currently, short sellers hold a 3.69% ratio of that float. The average trading volume of BTCM on April 23, 2024 was 128.98K shares.
BTCM) stock’s latest price update
BIT Mining Ltd ADR (NYSE: BTCM)’s stock price has soared by 35.68 in relation to previous closing price of 1.99. Nevertheless, the company has seen a gain of 33.00% in its stock price over the last five trading days. PRNewsWire reported 2024-02-08 that AKRON, Ohio, Feb. 8, 2024 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM) (“BIT Mining,” “the Company,” “we,” “us,” or “our company”), a leading technology-driven cryptocurrency mining company, today announced that it plans to release its unaudited financial results for the fourth quarter and full year ended December 31, 2023, after the U.S. market close on Friday, February 23, 2024. About BIT Mining Limited BIT Mining (NYSE: BTCM) is a leading technology-driven cryptocurrency mining company with operations in cryptocurrency mining, data center operation and mining machine manufacturing.
BTCM’s Market Performance
BIT Mining Ltd ADR (BTCM) has experienced a 33.00% rise in stock performance for the past week, with a -8.78% drop in the past month, and a -30.05% drop in the past quarter. The volatility ratio for the week is 19.12%, and the volatility levels for the past 30 days are at 11.29% for BTCM. The simple moving average for the past 20 days is 5.26% for BTCM’s stock, with a -20.76% simple moving average for the past 200 days.
BTCM Trading at -14.69% from the 50-Day Moving Average
After a stumble in the market that brought BTCM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -61.15% of loss for the given period.
Volatility was left at 11.29%, however, over the last 30 days, the volatility rate increased by 19.12%, as shares sank -4.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -31.99% lower at present.
During the last 5 trading sessions, BTCM rose by +33.00%, which changed the moving average for the period of 200-days by -14.29% in comparison to the 20-day moving average, which settled at $2.5600. In addition, BIT Mining Ltd ADR saw -46.43% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BTCM
Current profitability levels for the company are sitting at:
- -0.06 for the present operating margin
- 0.02 for the gross margin
The net margin for BIT Mining Ltd ADR stands at -0.06. The total capital return value is set at -0.34. Equity return is now at value -23.71, with -13.32 for asset returns.
Based on BIT Mining Ltd ADR (BTCM), the company’s capital structure generated 0.03 points at debt to capital in total, while cash flow to debt ratio is standing at -20.59. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is 13.29.
Currently, EBITDA for the company is -42.09 million with net debt to EBITDA at -0.01. When we switch over and look at the enterprise to sales, we see a ratio of 0.13. The receivables turnover for the company is 81.57for trailing twelve months and the total asset turnover is 3.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.12.
Conclusion
In conclusion, BIT Mining Ltd ADR (BTCM) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
