Short Interest in BTC Development Corp. (NASDAQ:BDCI) Expands By 232.1%

BTC Development Corp. (NASDAQ:BDCI) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 5,692 shares, an increase of 232.1% from the May 14th total of 1,714 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 27,047 shares, the short-interest ratio is currently 0.2 days.

BTC Development Stock Down 0.1%

BTC Development stock traded down $0.01 during mid-day trading on Thursday, hitting $10.05. The company’s stock had a trading volume of 12,506 shares, compared to its average volume of 65,108. The firm has a market cap of $305.02 million and a price-to-earnings ratio of 40.20. BTC Development has a 1 year low of $9.96 and a 1 year high of $10.26. The business has a fifty day moving average price of $10.02.

BTC Development (NASDAQ:BDCI) last posted its earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter.

Institutional Investors Weigh In On BTC Development

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ABC Arbitrage SA purchased a new stake in shares of BTC Development during the fourth quarter worth approximately $200,000. Picton Mahoney Asset Management acquired a new stake in shares of BTC Development in the fourth quarter valued at approximately $200,000. Crossingbridge Advisors LLC purchased a new position in shares of BTC Development during the fourth quarter valued at approximately $250,000. Boothbay Fund Management LLC purchased a new position in shares of BTC Development during the fourth quarter valued at approximately $350,000. Finally, StoneX Group Inc. purchased a new position in shares of BTC Development during the fourth quarter valued at approximately $526,000.

BTC Development Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination involving one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with respect to identifying any acquisition target.