Short Interest in Bit Origin Limited (NASDAQ:BTOG) Declines By 23.2%

Bit Origin Limited (NASDAQ:BTOG) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 51,881 shares, a drop of 23.2% from the February 12th total of 67,592 shares. Based on an average trading volume of 29,825 shares, the short-interest ratio is currently 1.7 days. Approximately 5.3% of the company’s shares are short sold. Approximately 5.3% of the company’s shares are short sold. Based on an average trading volume of 29,825 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

BTOG has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Bit Origin from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Bit Origin Price Performance

Shares of NASDAQ:BTOG opened at $2.55 on Monday. The stock’s 50-day simple moving average is $4.60 and its two-hundred day simple moving average is $14.36. Bit Origin has a 52-week low of $2.14 and a 52-week high of $60.60.

Institutional Trading of Bit Origin

An institutional investor recently raised its position in Bit Origin stock. XTX Topco Ltd increased its position in Bit Origin Limited (NASDAQ:BTOG) by 240.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 168,720 shares of the company’s stock after buying an additional 119,136 shares during the period. XTX Topco Ltd owned about 17.22% of Bit Origin worth $29,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.07% of the company’s stock.

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.