BTC Development (NASDAQ:BDCI) Issues Quarterly Earnings Results

BTC Development (NASDAQ:BDCI) issued its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

BTC Development Stock Performance

Shares of NASDAQ:BDCI traded up $0.03 during trading on Thursday, reaching $10.21. 144,688 shares of the stock were exchanged, compared to its average volume of 125,568. BTC Development has a 12-month low of $9.96 and a 12-month high of $10.20. The firm has a market cap of $309.99 million and a price-to-earnings ratio of 28.37. The firm’s 50-day moving average price is $10.16 and its 200 day moving average price is $10.08.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded BTC Development from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On BTC Development

Hedge funds have recently made changes to their positions in the business. First Trust Capital Management L.P. purchased a new stake in BTC Development during the 3rd quarter worth $7,499,000. Periscope Capital Inc. purchased a new position in BTC Development in the third quarter valued at about $4,316,000. Wealthspring Capital LLC purchased a new position in BTC Development in the third quarter valued at about $3,116,000. Sona Asset Management US LLC acquired a new position in shares of BTC Development during the first quarter worth about $2,622,000. Finally, Rivernorth Capital Management LLC acquired a new position in shares of BTC Development during the first quarter worth about $1,996,000.

BTC Development Company Profile

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.