Bit Origin Limited (NASDAQ:BTOG) Short Interest Down 76.8% in July

Bit Origin Limited (NASDAQ:BTOG) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 88,708 shares, a drop of 76.8% from the June 30th total of 381,817 shares. Currently, 9.1% of the company’s stock are sold short. Based on an average trading volume of 1,744,216 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bit Origin in a report on Friday, May 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Bit Origin Price Performance

Shares of NASDAQ:BTOG traded down $0.04 during midday trading on Friday, hitting $0.83. The stock had a trading volume of 96,890 shares, compared to its average volume of 2,544,672. Bit Origin has a 12 month low of $0.79 and a 12 month high of $38.31. The business’s 50-day simple moving average is $1.50 and its 200-day simple moving average is $2.81.

Bit Origin (NASDAQ:BTOG) last issued its earnings results on Tuesday, June 30th. The company reported ($6.67) earnings per share for the quarter.

Institutional Investors Weigh In On Bit Origin

A hedge fund recently raised its position in Bit Origin stock. Virtu Financial LLC increased its holdings in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 146,491 shares of the company’s stock after purchasing an additional 121,066 shares during the period. Virtu Financial LLC owned 14.95% of Bit Origin worth $25,000 as of its most recent filing with the SEC. 1.07% of the stock is currently owned by institutional investors and hedge funds.

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.