Bit Origin Limited (NASDAQ:BTOG – Get Free Report) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 44,956 shares, a decline of 13.3% from the February 26th total of 51,881 shares. Based on an average daily volume of 108,998 shares, the short-interest ratio is presently 0.4 days. Approximately 4.6% of the company’s stock are short sold.
Bit Origin Stock Performance
Shares of Bit Origin stock opened at $2.12 on Tuesday. The firm has a fifty day simple moving average of $2.93 and a 200-day simple moving average of $12.77. Bit Origin has a 1-year low of $2.11 and a 1-year high of $60.60.
Wall Street Analysts Forecast Growth
Several research firms have commented on BTOG. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a research report on Monday, December 22nd. Wall Street Zen upgraded 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 data from MarketBeat.com, Bit Origin currently has a consensus rating of “Sell”.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC raised its position in shares of Bit Origin Limited (NASDAQ:BTOG – Free Report) by 476.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,491 shares of the company’s stock after acquiring an additional 121,066 shares during the period. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 as of its most recent SEC filing. 1.07% of the stock is owned by hedge funds and other institutional investors.
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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