BTC Development (NASDAQ:BDCI) Trading at $10.15

BTC Development Corp. (NASDAQ:BDCI)’s stock price was up 0% during trading on Thursday. The company traded as high as $10.16 and last traded at $10.1550. 29,882 shares changed hands during mid-day trading, an increase of 667% from the average session volume of 3,898 shares. The stock had previously closed at $10.15.

Analysts Set New Price Targets

Separately, Weiss Ratings raised BTC Development from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

BTC Development Price Performance

The business has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $10.07. The firm has a market cap of $307.90 million and a PE ratio of 33.82.

BTC Development (NASDAQ:BDCI) last released its earnings results on Monday, August 10th. The company reported $0.05 EPS for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BDCI. Magnetar Financial LLC bought a new position in BTC Development in the 4th quarter worth $7,511,000. Radcliffe Capital Management L.P. purchased a new position in shares of BTC Development in the fourth quarter valued at about $5,819,000. Alberta Investment Management Corp purchased a new position in shares of BTC Development in the fourth quarter valued at about $5,258,000. Aristeia Capital L.L.C. bought a new position in shares of BTC Development in the fourth quarter worth about $4,004,000. Finally, Context Capital Management LLC bought a new position in shares of BTC Development in the fourth quarter worth about $3,504,000.

About BTC Development

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination involving one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with respect to identifying any acquisition target.