Bgin Blockchain (NASDAQ:BGIN) Releases Quarterly Earnings Results

Bgin Blockchain (NASDAQ:BGIN) released its quarterly earnings results on Friday. The company reported $999.00 EPS for the quarter, Zacks reports.

Bgin Blockchain Stock Down 13.6%

NASDAQ BGIN traded down $0.50 on Friday, hitting $3.19. 19,479 shares of the stock traded hands, compared to its average volume of 15,686. The company has a 50-day moving average price of $2.89. Bgin Blockchain has a twelve month low of $2.08 and a twelve month high of $6.50.

Institutional Trading of Bgin Blockchain

A hedge fund recently bought a new stake in Bgin Blockchain stock. XTX Topco Ltd purchased a new position in shares of Bgin Blockchain Limited (NASDAQ:BGIN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,333 shares of the company’s stock, valued at approximately $31,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings began coverage on Bgin Blockchain in a research note on Thursday, January 15th. They set a “sell (e-)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Bgin Blockchain

Through our operating subsidiaries, we are a digital asset technology company based in Singapore, Hong Kong and the U.S. with proprietary cryptocurrency-mining technologies. We were established as a cryptocurrency mining business in 2019. Given our limited financial resources at the time, we decided to focus on selected alternative cryptocurrencies as it was more cost effective. We leveraged our in-house technical expertise to design the software and the chips that could efficiently mine different types of cryptocurrencies that we focused on.