BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Up 55.5% in December

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 390,183 shares, a growth of 55.5% from the November 30th total of 250,961 shares. Approximately 5.2% of the company’s stock are short sold. Based on an average daily volume of 81,978 shares, the days-to-cover ratio is currently 4.8 days. Based on an average daily volume of 81,978 shares, the days-to-cover ratio is currently 4.8 days. Approximately 5.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of BTC Digital in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BTC Digital has an average rating of “Sell”.

Institutional Investors Weigh In On BTC Digital

An institutional investor recently raised its position in BTC Digital stock. SBI Securities Co. Ltd. raised its stake in BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,378 shares of the company’s stock after buying an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned about 0.38% of BTC Digital worth $89,000 at the end of the most recent quarter. 7.32% of the stock is currently owned by institutional investors and hedge funds.

BTC Digital Trading Down 7.0%

Shares of NASDAQ:BTCT opened at $1.60 on Monday. BTC Digital has a 1-year low of $1.57 and a 1-year high of $9.90. The stock has a market cap of $12.03 million, a PE ratio of -1.33 and a beta of 5.55. The stock’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $2.57.

BTC Digital Company Profile

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.