BTC Development (NASDAQ:BDCI) Releases Earnings Results

BTC Development (NASDAQ:BDCI) issued its quarterly earnings data on Tuesday. The company reported $0.20 EPS for the quarter, Zacks reports.

BTC Development Stock Down 0.1%

NASDAQ:BDCI traded down $0.01 during trading hours on Wednesday, hitting $9.98. The company’s stock had a trading volume of 165 shares, compared to its average volume of 20,268. BTC Development has a twelve month low of $9.96 and a twelve month high of $10.26. The stock has a fifty day simple moving average of $10.04.

Wall Street Analysts Forecast Growth

BDCI has been the subject of a number of analyst reports. Wall Street Zen raised BTC Development to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings started coverage on BTC Development in a report on Monday, January 12th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Picton Mahoney Asset Management acquired a new stake in BTC Development during the 4th quarter worth about $200,000. StoneX Group Inc. bought a new stake in shares of BTC Development during the 4th quarter valued at about $526,000. Crossingbridge Advisors LLC bought a new stake in shares of BTC Development during the 4th quarter valued at about $250,000. Harraden Circle Investments LLC acquired a new stake in BTC Development during the fourth quarter worth approximately $6,676,000. Finally, First Trust Capital Management L.P. bought a new stake in BTC Development in the fourth quarter worth approximately $7,508,000.

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.