BTC Development (NASDAQ:BDCI) Issues Earnings Results

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

BTC Development Stock Performance

Shares of NASDAQ:BDCI traded up $0.01 during trading hours on Monday, hitting $10.10. The stock had a trading volume of 11,442 shares, compared to its average volume of 26,453. The stock’s fifty day simple moving average is $10.07 and its 200 day simple moving average is $10.04. The firm has a market capitalization of $306.50 million and a price-to-earnings ratio of 40.40. BTC Development has a 1-year low of $9.96 and a 1-year high of $10.26.

Institutional Investors Weigh In On BTC Development

Several hedge funds have recently modified their holdings of BDCI. ABC Arbitrage SA purchased a new position in BTC Development in the 4th quarter worth about $200,000. Picton Mahoney Asset Management acquired a new stake in BTC Development during the 4th quarter worth about $200,000. Crossingbridge Advisors LLC purchased a new stake in BTC Development during the fourth quarter valued at about $250,000. Boothbay Fund Management LLC purchased a new stake in BTC Development during the fourth quarter valued at about $350,000. Finally, StoneX Group Inc. acquired a new position in shares of BTC Development in the fourth quarter worth about $526,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded BTC Development from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

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.