Short Interest in BTC Digital Ltd. (NASDAQ:BTCT) Rises By 99.0%

BTC Digital Ltd. (NASDAQ:BTCT) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 365,264 shares, an increase of 99.0% from the May 31st total of 183,580 shares. Based on an average daily volume of 517,643 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.8% of the shares of the company are sold short.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research raised BTC Digital to a “hold” rating in a report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BTC Digital in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

BTC Digital Price Performance

NASDAQ:BTCT traded up $0.02 on Thursday, reaching $0.97. 787,857 shares of the company’s stock traded hands, compared to its average volume of 785,397. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $1.17 and a 200-day simple moving average of $1.31. The firm has a market cap of $9.27 million, a PE ratio of -0.81 and a beta of 5.41. BTC Digital has a 12 month low of $0.61 and a 12 month high of $4.79.

BTC Digital (NASDAQ:BTCT) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $4.16 million during the quarter.

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.