Bgin Blockchain (NASDAQ:BGIN) Posts Earnings Results

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

Bgin Blockchain Price Performance

BGIN stock traded down $0.50 on Friday, reaching $3.19. The company’s stock had a trading volume of 19,479 shares, compared to its average volume of 15,686. Bgin Blockchain has a 52 week low of $2.08 and a 52 week high of $6.50. The business has a fifty day simple moving average of $2.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on Bgin Blockchain in a report on Thursday, January 15th. They issued a “sell (e-)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Bgin Blockchain presently has an average rating of “Sell”.

Hedge Funds Weigh In On Bgin Blockchain

A hedge fund recently bought a new stake in Bgin Blockchain stock. Geode Capital Management LLC acquired a new position in Bgin Blockchain Limited (NASDAQ:BGIN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 57,570 shares of the company’s stock, valued at approximately $144,000. Geode Capital Management LLC owned approximately 0.05% of Bgin Blockchain at the end of the most recent reporting period.

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.