Bit Origin Limited (NASDAQ:BTOG) Short Interest Down 83.9% in July

Bit Origin Limited (NASDAQ:BTOG) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 14,311 shares, a drop of 83.9% from the July 15th total of 88,708 shares. Based on an average daily volume of 657,401 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bit Origin in a research report on Wednesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Bit Origin Stock Performance

Shares of BTOG stock traded down $0.03 during trading on Friday, reaching $0.81. The company’s stock had a trading volume of 12,548 shares, compared to its average volume of 666,695. Bit Origin has a one year low of $0.62 and a one year high of $33.34. The business has a fifty day moving average price of $1.24 and a 200-day moving average price of $2.01.

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

Institutional Trading of Bit Origin

An institutional investor recently raised its stake in Bit Origin stock. Virtu Financial LLC increased its stake in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 146,491 shares of the company’s stock after acquiring an additional 121,066 shares during the period. Virtu Financial LLC owned about 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 hedge funds and other institutional investors.

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.