Bit Origin (NASDAQ:BTOG) Shares Down 3.8% – What’s Next?

Bit Origin Limited (NASDAQ:BTOG) fell 3.8% during trading on Thursday . The stock traded as low as $2.03 and last traded at $2.04. 31,997 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,660,621 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Bit Origin from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Bit Origin Trading Down 3.8%

The firm’s 50 day moving average is $2.41 and its 200 day moving average is $8.53.

Institutional Trading of Bit Origin

A hedge fund recently raised its stake in Bit Origin stock. XTX Topco Ltd boosted its holdings in shares of Bit Origin Limited (NASDAQ:BTOG) by 240.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 168,720 shares of the company’s stock after purchasing an additional 119,136 shares during the period. XTX Topco Ltd owned approximately 17.22% of Bit Origin worth $29,000 at the end of the most recent quarter. Institutional investors own 1.07% of the company’s stock.

Bit Origin Company Profile

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.