Bit Origin Limited (NASDAQ:BTOG – Get Free Report) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 51,881 shares, a drop of 23.2% from the February 12th total of 67,592 shares. Based on an average daily trading volume, of 29,825 shares, the days-to-cover ratio is presently 1.7 days. Approximately 5.3% of the company’s stock are short sold. Approximately 5.3% of the company’s stock are short sold. Based on an average daily trading volume, of 29,825 shares, the days-to-cover ratio is presently 1.7 days.
Institutional Investors Weigh In On Bit Origin
A hedge fund recently raised its stake in Bit Origin stock. XTX Topco Ltd boosted its position in Bit Origin Limited (NASDAQ:BTOG – Free Report) by 240.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,720 shares of the company’s stock after buying an additional 119,136 shares during the period. XTX Topco Ltd owned approximately 17.22% of Bit Origin worth $29,000 as of its most recent filing with the Securities & Exchange Commission. 1.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have weighed in on BTOG. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Bit Origin from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
Bit Origin Stock Down 4.9%
Shares of BTOG opened at $2.55 on Friday. The stock has a 50-day moving average of $4.60 and a two-hundred day moving average of $14.44. Bit Origin has a one year low of $2.14 and a one year high of $60.60.
About Bit Origin
Bit Origin Ltd, through its subsidiaries, engages in the cryptocurrency mining business in the United States. It is also involved in deploying blockchain technologies. The company was formerly known as China Xiangtai Food Co, Ltd. and changed its name to Bit Origin Ltd in April 2022. Bit Origin Ltd was incorporated in 2018 and is based in Singapore, Singapore.
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