Bgin Blockchain Limited (NASDAQ:BGIN) Short Interest Update

Bgin Blockchain Limited (NASDAQ:BGIN) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 95,872 shares, an increase of 349.3% from the July 30th total of 21,337 shares. Based on an average trading volume of 192,487 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

Bgin Blockchain Stock Performance

Bgin Blockchain stock opened at $2.02 on Wednesday. The business has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $2.64. Bgin Blockchain has a one year low of $1.61 and a one year high of $6.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Bgin Blockchain from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Bgin Blockchain

A hedge fund recently bought a new position in Bgin Blockchain stock. Geode Capital Management LLC bought a new position in Bgin Blockchain Limited (NASDAQ:BGIN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 57,570 shares of the company’s stock, valued at approximately $144,000. Geode Capital Management LLC owned about 0.05% of Bgin Blockchain as of its most recent filing with the Securities and Exchange Commission.

About Bgin Blockchain

Through our operating subsidiaries, we are a digital asset technology company based in Singapore, Hong Kong and the U.S. with proprietary cryptocurrency-mining technologies. We were established as a cryptocurrency mining business in 2019. Given our limited financial resources at the time, we decided to focus on selected alternative cryptocurrencies as it was more cost effective. We leveraged our in-house technical expertise to design the software and the chips that could efficiently mine different types of cryptocurrencies that we focused on.