Bit Origin (NASDAQ:BTOG) Trading Down 3.1% – Here’s Why

Bit Origin Limited (NASDAQ:BTOG)’s share price fell 3.1% during mid-day trading on Tuesday . The stock traded as low as $1.82 and last traded at $1.90. Approximately 55,460 shares traded hands during trading, a decline of 72% from the average daily volume of 199,447 shares. The stock had previously closed at $1.96.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a research report on Friday, May 15th. One investment 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 Price Performance

The company has a 50-day simple moving average of $1.94 and a 200 day simple moving average of $4.56.

Institutional Trading of Bit Origin

A hedge fund recently raised its stake in Bit Origin stock. Virtu Financial LLC boosted its position in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 146,491 shares of the company’s stock after buying an additional 121,066 shares during the quarter. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 at the end of the most recent reporting period. 1.07% of the stock is owned by institutional investors and hedge funds.

Bit Origin Company Profile

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.