Short Interest in Bit Origin Limited (NASDAQ:BTOG) Grows By 57.9%

Bit Origin Limited (NASDAQ:BTOG) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 345,725 shares, an increase of 57.9% from the December 31st total of 218,935 shares. Approximately 35.5% of the shares of the company are sold short. Based on an average trading volume of 3,906,491 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 3,906,491 shares, the days-to-cover ratio is presently 0.1 days. Approximately 35.5% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BTOG. Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a research note on Monday, December 22nd. Wall Street Zen upgraded Bit Origin from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Bit Origin currently has an average rating of “Sell”.

Bit Origin Stock Performance

Shares of BTOG traded up $0.04 during mid-day trading on Friday, reaching $4.04. The stock had a trading volume of 290,417 shares, compared to its average volume of 101,676. Bit Origin has a 12 month low of $3.39 and a 12 month high of $60.60. The business has a fifty day moving average of $11.19 and a 200 day moving average of $19.89.

About Bit Origin

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.