Bit Origin Limited (NASDAQ:BTOG) Short Interest Update

Bit Origin Limited (NASDAQ:BTOG) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 36,537 shares, a growth of 155.3% from the July 30th total of 14,311 shares. Based on an average daily volume of 94,531 shares, the days-to-cover ratio is presently 0.4 days. Currently, 18.7% of the shares of the stock are sold short.

Bit Origin Stock Down 12.7%

BTOG stock opened at $3.10 on Friday. Bit Origin has a 52 week low of $2.98 and a 52 week high of $166.71. The firm’s fifty day moving average is $4.95 and its 200 day moving average is $9.06.

Bit Origin (NASDAQ:BTOG) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($33.33) earnings per share for the quarter.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC boosted its stake in Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 14.95% of Bit Origin worth $25,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

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.