BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Update

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 532,775 shares, an increase of 52.7% from the December 31st total of 348,969 shares. Approximately 7.1% of the company’s shares are short sold. Based on an average daily volume of 108,152 shares, the days-to-cover ratio is presently 4.9 days. Based on an average daily volume of 108,152 shares, the days-to-cover ratio is presently 4.9 days. Approximately 7.1% of the company’s shares are short sold.

Institutional Trading of BTC Digital

A hedge fund recently raised its stake in BTC Digital stock. SBI Securities Co. Ltd. boosted its stake in shares of BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,378 shares of the company’s stock after purchasing an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned about 0.38% of BTC Digital worth $89,000 at the end of the most recent quarter. Institutional investors own 7.32% of the company’s stock.

BTC Digital Trading Down 2.1%

BTCT traded down $0.03 during trading on Friday, hitting $1.37. The stock had a trading volume of 50,737 shares, compared to its average volume of 81,385. The firm has a market cap of $10.30 million, a PE ratio of -1.14 and a beta of 5.71. The company has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $2.27. BTC Digital has a 12 month low of $1.26 and a 12 month high of $6.55.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BTC Digital in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

About BTC Digital

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.