Short Interest in Bit Origin Limited (NASDAQ:BTOG) Declines By 13.3%

Bit Origin Limited (NASDAQ:BTOG) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 44,956 shares, a decrease of 13.3% from the February 26th total of 51,881 shares. Based on an average daily volume of 108,998 shares, the days-to-cover ratio is presently 0.4 days. Currently, 4.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

BTOG has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a report on Monday, December 22nd. Wall Street Zen upgraded Bit Origin from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Bit Origin Price Performance

Bit Origin stock opened at $2.24 on Thursday. Bit Origin has a 12 month low of $2.10 and a 12 month high of $60.60. The business’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $12.53.

Institutional Investors Weigh In On Bit Origin

A hedge fund recently raised its stake in Bit Origin stock. Virtu Financial LLC grew its stake in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,491 shares of the company’s stock after acquiring an additional 121,066 shares during the quarter. Virtu Financial LLC owned about 14.95% of Bit Origin worth $25,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.07% of the company’s stock.

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.