BTC Digital Ltd. (NASDAQ:BTCT) Sees Significant Growth in Short Interest

BTC Digital Ltd. (NASDAQ:BTCT – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 365,264 shares, a growth of 99.0% from the May 31st total of 183,580 shares. Based on an average daily volume of 517,643 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BTCT. Weiss Ratings reissued a “sell (e+)” rating on shares of BTC Digital in a report on Wednesday, June 24th. Zacks Research raised shares of BTC Digital to a “hold” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BTC Digital currently has a consensus rating of “Reduce”.

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BTC Digital Trading Up 11.4%

Shares of BTCT traded up $0.09 on Wednesday, hitting $0.92. 2,825,024 shares of the stock traded hands, compared to its average volume of 771,318. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.73 million, a P/E ratio of -0.77 and a beta of 5.36. The stock’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.31. BTC Digital has a 1 year low of $0.61 and a 1 year high of $4.79.

BTC Digital (NASDAQ:BTCT – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.21) earnings per share for the quarter. The business had revenue of $4.16 million during the quarter.

BTC Digital Company Profile

(Get Free Report)

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.

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