Bit Origin (NASDAQ:BTOG) Trading Down 6.6% – Here’s What Happened

Shares of Bit Origin Limited (NASDAQ:BTOG) were down 6.6% during trading on Monday . The stock traded as low as $0.3294 and last traded at $0.3316. Approximately 1,940,086 shares were traded during trading, a decline of 55% from the average daily volume of 4,302,680 shares. The stock had previously closed at $0.3552.

Wall Street Analyst Weigh In

Several analysts have commented on BTOG shares. Wall Street Zen upgraded shares of Bit Origin to a “sell” rating in a report on Saturday, October 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Bit Origin Stock Down 6.6%

The stock’s fifty day moving average price is $0.41 and its 200-day moving average price is $0.32.

Institutional Trading of Bit Origin

An institutional investor recently bought a new position in Bit Origin stock. Virtu Financial LLC acquired a new stake in Bit Origin Limited (NASDAQ:BTOG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 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. 1.07% of the stock is currently 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.