Bit Origin (NASDAQ:BTOG) Stock Price Down 3.5% – What’s Next?

Bit Origin Limited (NASDAQ:BTOG) shares were down 3.5% during trading on Tuesday . The company traded as low as $0.2360 and last traded at $0.2481. Approximately 874,982 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,902,051 shares. The stock had previously closed at $0.2570.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BTOG shares. Wall Street Zen upgraded Bit Origin to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Bit Origin presently has a consensus rating of “Sell”.

Bit Origin Price Performance

The company has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $0.33.

Institutional Investors Weigh In On Bit Origin

A hedge fund recently bought a new stake in Bit Origin stock. Virtu Financial LLC purchased a new position in Bit Origin Limited (NASDAQ:BTOG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 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.