Bit Origin (NASDAQ:BTOG) Stock Price Down 3.8% – Time to Sell?

Bit Origin Limited (NASDAQ:BTOG)’s share price traded down 3.8% during mid-day trading on Thursday . The company traded as low as $2.03 and last traded at $2.04. 31,997 shares changed hands during trading, a decline of 98% from the average session volume of 1,660,621 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Separately, 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 investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Bit Origin Stock Down 5.9%

The business’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $8.53.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC boosted its holdings in Bit Origin Limited (NASDAQ:BTOG) by 476.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,491 shares of the company’s stock after buying an additional 121,066 shares during the quarter. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 at the end of the most recent reporting period. 1.07% of the stock is currently owned by institutional investors.

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.