BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Up 601.0% in June

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,560,520 shares, an increase of 601.0% from the June 15th total of 365,264 shares. Currently, 27.0% of the company’s shares are sold short. Based on an average daily volume of 7,683,718 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BTC Digital in a research note on Wednesday, June 24th. Zacks Research raised shares of BTC Digital to a “hold” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

BTC Digital Trading Down 2.5%

Shares of NASDAQ BTCT traded down $0.02 during trading hours on Friday, hitting $0.93. The company’s stock had a trading volume of 153,290 shares, compared to its average volume of 4,427,911. BTC Digital has a 12 month low of $0.61 and a 12 month high of $4.79. The stock has a market cap of $8.84 million, a price-to-earnings ratio of -0.77 and a beta of 5.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.79 and a current ratio of 7.79. The business has a 50-day simple moving average of $1.14 and a 200-day simple moving average of $1.28.

BTC Digital (NASDAQ:BTCT) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.21) EPS for the quarter. The business had revenue of $4.16 million during the quarter.

About BTC Digital

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.