Short Interest in Bit Origin Limited (NASDAQ:BTOG) Increases By 133.2%

Bit Origin Limited (NASDAQ:BTOG) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 87,950 shares, an increase of 133.2% from the May 31st total of 37,715 shares. Approximately 9.0% of the shares of the stock are short sold. Based on an average trading volume of 256,766 shares, the days-to-cover ratio is presently 0.3 days.

Bit Origin Stock Performance

Shares of BTOG stock traded down $0.39 on Monday, reaching $1.24. 20,473,308 shares of the company’s stock traded hands, compared to its average volume of 527,538. Bit Origin has a 12-month low of $1.14 and a 12-month high of $60.60. The business’s 50 day moving average price is $1.89 and its two-hundred day moving average price is $4.35.

Hedge Funds Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. XTX Topco Ltd lifted its stake in Bit Origin Limited (NASDAQ:BTOG) by 240.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,720 shares of the company’s stock after purchasing an additional 119,136 shares during the quarter. XTX Topco Ltd owned 17.22% of Bit Origin worth $29,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 1.07% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Bit Origin currently has an average rating of “Sell”.

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.