Short Interest in Bit Origin Limited (NASDAQ:BTOG) Rises By 32.7%

Bit Origin Limited (NASDAQ:BTOG) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 67,592 shares, an increase of 32.7% from the January 29th total of 50,943 shares. Approximately 6.9% of the shares of the company are sold short. Based on an average daily volume of 134,658 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 134,658 shares, the days-to-cover ratio is presently 0.5 days. Approximately 6.9% of the shares of the company are sold short.

Hedge Funds Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC lifted its position in Bit Origin Limited (NASDAQ:BTOG) by 476.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,491 shares of the company’s stock after purchasing an additional 121,066 shares during the period. Virtu Financial LLC owned about 14.95% of Bit Origin worth $25,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BTOG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bit Origin in a report on Monday, December 22nd. Wall Street Zen raised shares of Bit Origin from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Bit Origin Stock Down 2.1%

Shares of BTOG stock traded down $0.05 during trading hours on Monday, reaching $2.48. 24,580 shares of the company traded hands, compared to its average volume of 100,163. The firm has a 50-day moving average price of $6.27 and a 200 day moving average price of $16.10. Bit Origin has a 12-month low of $2.14 and a 12-month high of $60.60.

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.