BTC Digital (NASDAQ:BTCT) Stock Price Down 1.7% – Should You Sell?

BTC Digital Ltd. (NASDAQ:BTCT)’s share price was down 1.7% during trading on Monday . The stock traded as low as $1.16 and last traded at $1.17. Approximately 33,432 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 76,547 shares. The stock had previously closed at $1.19.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BTC Digital in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

BTC Digital Stock Down 1.7%

The stock has a market capitalization of $8.80 million, a P/E ratio of -0.98 and a beta of 5.71. The stock’s 50 day moving average price is $1.48 and its 200-day moving average price is $2.07.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BTC Digital stock. SBI Securities Co. Ltd. lifted its stake in BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,378 shares of the company’s stock after acquiring an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned 0.38% of BTC Digital worth $89,000 at the end of the most recent quarter. 7.32% of the stock is currently owned by institutional investors and hedge funds.

BTC Digital Company Profile

BTC Digital Ltd. a crypto asset technology company engages in bitcoin mining business. It is also involved in mining machines resale and rental business. The company was formerly known as Meten Holding Group Ltd. and changed its name to BTC Digital Ltd. in August 2023. The company was founded in 2006 and is headquartered in Shenzhen, China.