BTC Digital Ltd. (NASDAQ:BTCT) Shares Shorted: Short Interest Down 95.2% in September

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 200,300 shares, a decline of 95.2% from the September 15th total of 4,149,645 shares. Based on an average trading volume of 4,920,560 shares, the short-interest ratio is presently 0.0 days. Currently, 2.1% of the shares of the company are sold short.

BTC Digital Stock Down 3.8%

Shares of BTCT traded down $0.04 during mid-day trading on Friday, reaching $1.01. The company had a trading volume of 556,404 shares, compared to its average volume of 3,993,163. The stock has a market capitalization of $9.61 million, a P/E ratio of -0.84 and a beta of 5.80. BTC Digital has a 52-week low of $0.43 and a 52-week high of $3.10. The stock has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BTCT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of BTC Digital in a research note on Monday, September 21st. Wall Street Zen upgraded shares of BTC Digital to a “hold” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

About BTC Digital

BTC Digital Limited (NASDAQ: BTCT) is a digital asset technology company focused primarily on cryptocurrency mining and related infrastructure services. Its activities include bitcoin mining, cryptocurrency mining machine hosting, equipment management and maintenance, and other services that support digital asset mining operations.

The company’s business developed from its earlier operations as Meten Holding Group Ltd., a China-based provider of English-language training and educational services.