SOLAI Limited (NYSE:SLAI) Short Interest Update

SOLAI Limited (NYSE:SLAI) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 80,921 shares, a decrease of 83.0% from the June 30th total of 477,149 shares. Based on an average trading volume of 94,558 shares, the days-to-cover ratio is presently 0.9 days. Approximately 3.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On SOLAI

An institutional investor recently bought a new position in SOLAI stock. Two Sigma Investments LP bought a new stake in SOLAI Limited (NYSE:SLAI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,904 shares of the company’s stock, valued at approximately $156,000. Two Sigma Investments LP owned approximately 0.35% of SOLAI as of its most recent SEC filing. Institutional investors and hedge funds own 5.34% of the company’s stock.

SOLAI Stock Performance

The business has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $5.28. SOLAI has a 12 month low of $2.59 and a 12 month high of $32.27.

SOLAI (NYSE:SLAI) last released its quarterly earnings results on Tuesday, May 26th. The company reported ($0.34) earnings per share (EPS) for the quarter. The firm had revenue of $7.92 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of SOLAI in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

About SOLAI

BIT Mining Limited operates as a cryptocurrency mining company in the Mainland China, the United States, and Hong Kong. The company operates in two segments: Data Center and Cryptocurrency Mining. It operates a cryptocurrency mining data center in Ohio with power capacity of 82.5 megawatts; and purchases and deploys bitcoin mining machines. In addition, it engages in online gaming activities; and provision of technology services. The company was formerly known as 500.com Limited and changed its name to BIT Mining Limited in April 2021.