BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Up 601.0% in June

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 2,560,520 shares, an increase of 601.0% from the June 15th total of 365,264 shares. Based on an average trading volume of 7,683,718 shares, the short-interest ratio is currently 0.3 days. Currently, 27.0% of the company’s shares are short sold.

BTC Digital Stock Down 2.5%

BTCT stock traded down $0.02 during midday trading on Friday, hitting $0.93. The company’s stock had a trading volume of 153,290 shares, compared to its average volume of 4,426,276. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.79 and a current ratio of 7.79. BTC Digital has a 52-week low of $0.61 and a 52-week high of $4.79. The firm has a 50-day simple moving average of $1.14 and a 200-day simple moving average of $1.27.

BTC Digital (NASDAQ:BTCT) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.21) EPS for the quarter. The business had revenue of $4.16 million for the quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of BTC Digital in a report on Wednesday, June 24th. Zacks Research upgraded shares of BTC Digital to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

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.