BTC Development (NASDAQ:BDCI) Releases Quarterly Earnings Results

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

BTC Development Trading Up 0.0%

Shares of BDCI traded up $0.00 during trading hours on Wednesday, reaching $10.18. The stock had a trading volume of 6,516 shares, compared to its average volume of 125,503. BTC Development has a 12 month low of $9.96 and a 12 month high of $10.20. The firm has a 50-day simple moving average of $10.16 and a 200 day simple moving average of $10.08. The company has a market capitalization of $309.05 million and a price-to-earnings ratio of 33.95.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of BTC Development from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, BTC Development has a consensus rating of “Sell”.

Institutional Inflows and Outflows

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

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.