BTC Development (NASDAQ:BDCI) Announces Earnings Results

BTC Development (NASDAQ:BDCI) issued its earnings results on Monday. The company reported $0.05 EPS for the quarter, FiscalAI reports.

BTC Development Trading Up 0.1%

Shares of BTC Development stock opened at $10.10 on Tuesday. The company has a market capitalization of $306.47 million and a PE ratio of 40.40. The stock’s fifty day simple moving average is $10.07 and its 200 day simple moving average is $10.04. BTC Development has a 12 month low of $9.96 and a 12 month high of $10.26.

Analysts Set New Price Targets

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

Institutional Trading of BTC Development

A number of institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC acquired a new position in shares of BTC Development in the first quarter valued at approximately $1,996,000. Sona Asset Management US LLC bought a new position in BTC Development during the first quarter worth about $2,622,000. Bulldog Investors LLP acquired a new position in shares of BTC Development during the 1st quarter worth approximately $670,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of BTC Development during the fourth quarter worth approximately $1,002,000. Finally, Lineage Point Capital LP bought a new stake in shares of BTC Development in the fourth quarter valued at approximately $2,002,000.

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.