BTC Development Corp. $BDCI Stock Holdings Cut by Context Capital Management LLC

Context Capital Management LLC lowered its holdings in shares of BTC Development Corp. (NASDAQ:BDCI) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the company’s stock after selling 87,500 shares during the quarter. Context Capital Management LLC owned about 1.15% of BTC Development worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wealthspring Capital LLC bought a new stake in BTC Development in the third quarter worth $3,116,000. Sona Asset Management US LLC bought a new position in BTC Development during the first quarter valued at about $2,622,000. Rivernorth Capital Management LLC acquired a new stake in shares of BTC Development in the first quarter worth about $1,996,000. StoneX Group Inc. acquired a new stake in shares of BTC Development in the third quarter worth about $1,519,000. Finally, Bulldog Investors LLP acquired a new stake in shares of BTC Development in the first quarter worth about $670,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

BTC Development Price Performance

Shares of BDCI opened at $10.18 on Wednesday. The company has a market capitalization of $308.93 million and a PE ratio of 33.93. BTC Development Corp. has a one year low of $9.96 and a one year high of $10.20. The company’s fifty day moving average price is $10.16 and its 200 day moving average price is $10.08.

BTC Development (NASDAQ:BDCI) last announced its earnings results on Tuesday, November 10th. The company reported $0.06 earnings per share for the quarter.

BTC Development 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.