Bit Origin Limited (NASDAQ:BTOG) Short Interest Down 76.8% in July

Bit Origin Limited (NASDAQ:BTOG) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 88,708 shares, a decline of 76.8% from the June 30th total of 381,817 shares. Based on an average trading volume of 1,744,216 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.1% of the shares of the company are short sold.

Bit Origin Stock Down 2.7%

Shares of NASDAQ BTOG traded down $0.02 during midday trading on Monday, hitting $0.81. The company had a trading volume of 58,165 shares, compared to its average volume of 673,292. Bit Origin has a twelve month low of $0.79 and a twelve month high of $38.31. The business has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $2.74.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, Bit Origin currently has an average rating of “Sell”.

Institutional Investors Weigh In On Bit Origin

A hedge fund recently raised its stake in Bit Origin stock. Virtu Financial LLC grew its holdings in 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 purchasing an additional 121,066 shares during the quarter. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 at the end of the most recent quarter. 1.07% of the stock is owned by institutional investors.

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.