13.31% volatility in BIT Mining Limited (BTCM) last month: This is a red flag warning

On June 23, 2022, BIT Mining Limited (NYSE: BTCM) opened at $0.65, lower -39.07% from the last session. During the day, the shares moved up to $0.73 and dropped to $0.622 before settling in for the closing price of $1.19. Price fluctuations for BTCM have ranged from $1.05 to $14.65 over the past 52 weeks.

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Annual sales at Technology sector company grew by 202.40% over the past five years. Company’s average yearly earnings per share was noted -53.40% at the time writing. With a float of $38.23 million, this company’s outstanding shares have now reached $71.01 million.

Let’s look at the performance matrix of the company that is accounted for 153 employees. In terms of profitability, gross margin is +0.35, operating margin of -1.81, and the pretax margin is -4.72.

BIT Mining Limited (BTCM) Insider Updates

A key investor’s attitude towards the stock of the Information Technology Services industry is another important factor to consider. The insider ownership of BIT Mining Limited is 13.81%, while institutional ownership is 11.30%.

BIT Mining Limited (BTCM) Performance Highlights and Predictions

If we go through the results of last quarter, which was made public on 9/29/2015, the company posted -$0.18 earnings per share (EPS) for the quarter, coming under the agreed prediction (set at -$0.07) by -$0.11. This company achieved a net margin of -3.90 while generating a return on equity of -42.52. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -53.40% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 15.75% during the next five years compared to 29.90% growth over the previous five years of trading.

BIT Mining Limited (NYSE: BTCM) Trading Performance Indicators

Check out the current performance indicators for BIT Mining Limited (BTCM). In the past quarter, the stock posted a quick ratio of 1.30. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 0.03.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.92

Technical Analysis of BIT Mining Limited (BTCM)

BIT Mining Limited (NYSE: BTCM) saw its 5-day average volume 2.4 million, a positive change from its year-to-date volume of 0.68 million. As of the previous 9 days, the stock’s Stochastic %D was 10.98%. Additionally, its Average True Range was 0.25.

During the past 100 days, BIT Mining Limited’s (BTCM) raw stochastic average was set at 3.61%, which indicates a significant decrease from 5.86% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 260.58% in the past 14 days, which was higher than the 149.13% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $1.7619, while its 200-day Moving Average is $4.9262. Nevertheless, the first resistance level for the watch stands at $0.7627 in the near term. At $0.8004, the stock is likely to face the second major resistance level. The third major resistance level sits at $0.8707. If the price goes on to break the first support level at $0.6547, it is likely to go to the next support level at $0.5844. Assuming the price breaks the second support level, the third support level stands at $0.5467.

BIT Mining Limited (NYSE: BTCM) Key Stats

There are currently 71,008K shares outstanding in the company with a market cap of 53.37 million. Presently, the company’s annual sales total 1,329 M according to its annual income of -60,520 K. Last quarter, the company’s sales amounted to 296,680 K and its income totaled -3,050 K.


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