What Analysts Say about the BIT Mining Limited (BTCM) Stock

BIT Mining Limited (NYSE:BTCM) saw an upside of 3.10% to close Monday at $9.63 after adding $0.29 on the day. The 5-day average trading volume is 1,800,780 shares of the company’s common stock. It has gained $9.90 in the past week. An average of 1,853,835 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,001,148.

BTCM’s 1-month performance is -14.55% or -$1.64 on its low of $7.50 reached on 09/29/21. The company’s shares have touched a 52-week low of $2.55 and high of $35.00, with the stock’s rally to the 52-week high happening on 02/16/21. YTD, BTCM has achieved 7.00% or $0.63. However, the current price is down -72.49%% from the 52-week high price.

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Valuation Metrics

BIT Mining Limited (BTCM) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 12.78 for the sector.BTCM stock has a beta of 1.88. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.34 while the price-to-book (PB) in the most recent quarter is 3.21.

BIT Mining Limited’s quick ratio for the recent quarter was 1.20, with the current ratio over the same period at 1.20 meaning that BTCM stock is able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 2.80%. The trailing 12-month EBITDA margin is -660.98% while BIT Mining Limited’s operating margin was -7.50%. The firm’s gross profit as reported stood at $0.77 million against revenue of $3.34 million.

Earnings Surprise

Net income and sales went up compared to those figures reported in the previous quarter. EBITDA for the quarter stood at more than -$15.69 million. BTCM stock balance sheet for the recent quarter shows that total liabilities totaled 118.75 million, with total debt at $187.42 million

Technical Picture

Let’s look briefly at BIT Mining Limited (BTCM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 54.96% to suggest the stock is trending Neutral, with historical volatility in this time period at 71.52%.

The stock’s 5-day moving average is $9.47, reflecting a +10.94% or $0.95 change from its current price. BTCM is currently trading -6.50% above its 20-day SMA, -14.78% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +93.37% and +126.59% respectively.

Stochastic %K and %D was 72.42% and 65.22% and the average true range (ATR) pointed at 0.83. The RSI (14) points at 53.28%, while the 14-day stochastic is at 76.62% with the period’s ATR at 0.93. The stock’s 9-day MACD Oscillator is pointing at 0.58 and 0.45 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for BTCM stock have a consensus rating for the stock as Sell. Currently, 1 brokerage advisors rate BTCM as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.

What is BTCM’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $87.89 and a high of $87.89, with their median price target at $87.89. Looking at these predictions, the average price target given by analysts is for BIT Mining Limited (BTCM) stock is $87.89.


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