Bit Origin Limited (NASDAQ:BTOG – Get Free Report) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 87,950 shares, a growth of 133.2% from the May 31st total of 37,715 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average daily trading volume, of 256,766 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Trading of Bit Origin
A hedge fund recently raised its stake in Bit Origin stock. XTX Topco Ltd boosted its holdings in Bit Origin Limited (NASDAQ:BTOG – Free Report) by 240.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,720 shares of the company’s stock after buying 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 SEC filing. Institutional investors own 1.07% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated 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, Bit Origin has a consensus rating of “Sell”.
Bit Origin Trading Down 23.8%
Shares of Bit Origin stock traded down $0.39 during trading on Monday, hitting $1.24. The stock had a trading volume of 20,473,308 shares, compared to its average volume of 527,538. The business has a fifty day moving average of $1.89 and a two-hundred day moving average of $4.35. Bit Origin has a fifty-two week low of $1.14 and a fifty-two week high of $60.60.
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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