Short Interest in Bit Origin Limited (NASDAQ:BTOG) Increases By 334.1%

Bit Origin Limited (NASDAQ:BTOG – Get Free Report) saw a large growth in short interest during 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 shares of the company 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.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a research note on Friday, May 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Bit Origin currently has a consensus rating of “Sell”.

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Bit Origin Stock Performance

Bit Origin stock traded down $0.06 during midday trading on Friday, reaching $1.09. 185,624 shares of the stock were exchanged, compared to its average volume of 2,522,826. Bit Origin has a 52 week low of $1.02 and a 52 week high of $60.60. The company’s fifty day moving average is $1.70 and its 200-day moving average is $3.52.

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

Hedge Funds Weigh In On Bit Origin

A hedge fund recently raised its position in Bit Origin stock. XTX Topco Ltd grew its stake in Bit Origin Limited (NASDAQ:BTOG – Free Report) by 240.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,720 shares of the company’s stock after purchasing an additional 119,136 shares during the quarter. XTX Topco Ltd owned about 17.22% of Bit Origin worth $29,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.07% of the company’s stock.

Bit Origin Company Profile

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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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