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

BTC Digital Ltd. (NASDAQ:BTCT) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 311,992 shares, a drop of 42.2% from the February 12th total of 539,703 shares. Approximately 4.2% of the company’s stock are short sold. Based on an average trading volume of 33,589 shares, the short-interest ratio is currently 9.3 days. Based on an average trading volume of 33,589 shares, the short-interest ratio is currently 9.3 days. Approximately 4.2% of the company’s stock are short sold.

BTC Digital Trading Up 5.6%

BTC Digital stock traded up $0.07 during midday trading on Friday, hitting $1.32. The stock had a trading volume of 148,238 shares, compared to its average volume of 83,096. The business has a fifty day moving average price of $1.39 and a 200 day moving average price of $1.96. BTC Digital has a 12 month low of $1.07 and a 12 month high of $4.82. The stock has a market cap of $9.93 million, a P/E ratio of -1.10 and a beta of 5.71.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On BTC Digital

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

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.