BIT Mining Ltd (NYSE: BTCM) stock closed at $3.07 on 3/5/24 after a major decline of -13.0%. This decline was accompanied by normal trading volume. The stock has declined -20.7% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to fall short of the cost of capital, BTCM is expected to continue to be a modest Value Eraser.
BIT Mining has a current Value Trend Rating of A (Highest Rating). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. BIT Mining has a neutral Appreciation Score of 60 but a very high Power Rating of 91, resulting in the Highest Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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