Short Interest in Bit Origin Limited (NASDAQ:BTOG) Drops By 13.3%

Bit Origin Limited (NASDAQ:BTOG) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 44,956 shares, a drop of 13.3% from the February 26th total of 51,881 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 108,998 shares, the short-interest ratio is presently 0.4 days.

Bit Origin Stock Up 5.7%

Shares of BTOG stock opened at $2.24 on Wednesday. Bit Origin has a 1-year low of $2.10 and a 1-year high of $60.60. The company has a 50-day moving average of $2.88 and a two-hundred day moving average of $12.60.

Analyst Ratings Changes

A number of research analysts recently commented on BTOG shares. Wall Street Zen upgraded Bit Origin from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Bit Origin currently has a consensus rating of “Sell”.

Institutional Trading of Bit Origin

An institutional investor recently raised its position in Bit Origin stock. XTX Topco Ltd raised its position in Bit Origin Limited (NASDAQ:BTOG) by 240.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,720 shares of the company’s stock after purchasing an additional 119,136 shares during the quarter. XTX Topco Ltd owned 17.22% of Bit Origin worth $29,000 as of its most recent SEC filing. Institutional investors and hedge funds own 1.07% of the company’s stock.

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.