BTC Digital Ltd. (NASDAQ:BTCT) Sees Significant Increase in Short Interest

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 6,600 shares, an increase of 57.1% from the September 15th total of 4,200 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 25,600 shares, the days-to-cover ratio is presently 0.3 days.

BTC Digital Price Performance

Shares of BTC Digital stock traded up $0.07 during midday trading on Friday, reaching $1.59. The company had a trading volume of 23,648 shares, compared to its average volume of 32,206. BTC Digital has a fifty-two week low of $1.32 and a fifty-two week high of $6.06. The stock has a fifty day moving average price of $1.53 and a 200 day moving average price of $2.06.

BTC Digital (NASDAQ:BTCT) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $6.38 million for the quarter. As a group, research analysts expect that BTC Digital will post -0.98 EPS for the current year.

About BTC Digital

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.