Bit Origin Limited (NASDAQ:BTOG) Short Interest Up 334.1% in June

Bit Origin Limited (NASDAQ:BTOG) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 381,817 shares, a growth of 334.1% from the June 15th total of 87,950 shares. Currently, 39.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,160,048 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Bit Origin

A hedge fund recently raised its stake in Bit Origin stock. Virtu Financial LLC lifted its holdings in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,491 shares of the company’s stock after buying an additional 121,066 shares during the period. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.07% of the company’s stock.

Bit Origin Price Performance

Shares of NASDAQ BTOG traded down $0.06 on Friday, reaching $1.09. 185,624 shares of the company’s stock traded hands, compared to its average volume of 2,522,826. The business’s 50 day simple moving average is $1.70 and its two-hundred day simple moving average is $3.52. Bit Origin has a 12 month low of $1.02 and a 12 month high of $60.60.

Bit Origin (NASDAQ:BTOG) last issued its quarterly earnings results on Tuesday, June 30th. The company reported ($6.67) EPS for the quarter.

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.