Sona Asset Management US LLC acquired a new position in shares of BTC Development Corp. (NASDAQ:BDCI – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 262,494 shares of the company’s stock, valued at approximately $2,622,000.
Other hedge funds also recently bought and sold shares of the company. Bulldog Investors LLP acquired a new position in shares of BTC Development in the first quarter worth about $670,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of BTC Development during the fourth quarter valued at approximately $1,002,000. Lineage Point Capital LP acquired a new stake in shares of BTC Development during the fourth quarter valued at approximately $2,002,000. Virtu Financial LLC purchased a new stake in shares of BTC Development in the 4th quarter valued at approximately $847,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of BTC Development in the 4th quarter valued at approximately $5,258,000.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of BTC Development from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BTC Development currently has an average rating of “Sell”.
BTC Development Trading Up 0.1%
Shares of BTC Development stock opened at $10.09 on Monday. BTC Development Corp. has a 1 year low of $9.96 and a 1 year high of $10.26. The company has a market cap of $306.20 million and a P/E ratio of 40.36. The stock has a 50-day moving average price of $10.06 and a 200 day moving average price of $10.04.
BTC Development (NASDAQ:BDCI – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.05 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.
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