BTC Development (NASDAQ:BDCI) Stock Price Down 0.1% – Time to Sell?

BTC Development Corp. (NASDAQ:BDCI) traded down 0.1% during trading on Thursday . The company traded as low as $10.02 and last traded at $10.02. 5,424 shares were traded during mid-day trading, a decline of 84% from the average session volume of 34,838 shares. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

BDCI has been the subject of several analyst reports. Weiss Ratings began coverage on BTC Development in a research report on Monday, January 12th. They set a “sell (e)” rating for the company. Wall Street Zen raised shares of BTC Development to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BTC Development has a consensus rating of “Sell”.

BTC Development Stock Down 0.1%

The business’s 50 day moving average price is $10.05.

Institutional Trading of BTC Development

A number of large investors have recently bought and sold shares of the business. Meteora Capital LLC acquired a new stake in BTC Development during the 4th quarter worth approximately $18,337,000. Toronto Dominion Bank bought a new stake in shares of BTC Development during the fourth quarter worth $13,345,000. Glazer Capital LLC bought a new stake in BTC Development in the 4th quarter valued at $11,755,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in BTC Development in the 4th quarter worth $11,261,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in BTC Development in the 4th quarter worth $10,010,000.

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.