Bgin Blockchain Limited (NASDAQ:BGIN) Short Interest Update

Bgin Blockchain Limited (NASDAQ:BGIN) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 95,872 shares, an increase of 349.3% from the July 30th total of 21,337 shares. Based on an average daily trading volume, of 192,487 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are short sold.

Bgin Blockchain Stock Performance

Shares of NASDAQ BGIN traded down $0.11 during mid-day trading on Friday, reaching $1.93. 889 shares of the company’s stock were exchanged, compared to its average volume of 26,450. The company’s 50-day moving average is $1.91 and its 200-day moving average is $2.63. Bgin Blockchain has a 52-week low of $1.61 and a 52-week high of $6.50.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Bgin Blockchain from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Bgin Blockchain presently has an average rating of “Sell”.

Institutional Investors Weigh In On Bgin Blockchain

A hedge fund recently bought a new stake in Bgin Blockchain stock. Geode Capital Management LLC purchased a new stake in Bgin Blockchain Limited (NASDAQ:BGIN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 57,570 shares of the company’s stock, valued at approximately $144,000. Geode Capital Management LLC owned 0.05% of Bgin Blockchain as of its most recent filing with the SEC.

Bgin Blockchain Company Profile

Through our operating subsidiaries, we are a digital asset technology company based in Singapore, Hong Kong and the U.S. with proprietary cryptocurrency-mining technologies. We were established as a cryptocurrency mining business in 2019. Given our limited financial resources at the time, we decided to focus on selected alternative cryptocurrencies as it was more cost effective. We leveraged our in-house technical expertise to design the software and the chips that could efficiently mine different types of cryptocurrencies that we focused on.