Bit Origin Limited (NASDAQ:BTOG) Sees Significant Increase in Short Interest

Bit Origin Limited (NASDAQ:BTOG) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 9,340,000 shares, anincreaseof1,505.9% from the June 30th total of 581,600 shares. Based on an average daily volume of 42,590,000 shares, the short-interest ratio is presently 0.2 days. Approximately17.7% of the shares of the company are short sold. Approximately17.7% of the shares of the company are short sold. Based on an average daily volume of 42,590,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Bit Origin

A hedge fund recently bought a new stake in Bit Origin stock. Virtu Financial LLC bought a new stake in Bit Origin Limited (NASDAQ:BTOG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 218,114 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned about 2.70% of Bit Origin as of its most recent SEC filing. Hedge funds and other institutional investors own 1.07% of the company’s stock.

Bit Origin Trading Down 13.4%

Shares of BTOG opened at $0.34 on Friday. Bit Origin has a one year low of $0.12 and a one year high of $3.09. The company’s fifty day moving average price is $0.27 and its 200 day moving average price is $0.30.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Bit Origin to a “sell” rating in a research note on Friday, July 18th.

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.