Bit Origin Limited (NASDAQ:BTOG) Short Interest Update

Bit Origin Limited (NASDAQ:BTOG) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 36,537 shares, a growth of 155.3% from the July 30th total of 14,311 shares. Approximately 18.7% of the shares of the stock are short sold. Based on an average trading volume of 94,531 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bit Origin stock. XTX Topco Ltd grew its position in Bit Origin Limited (NASDAQ:BTOG) by 240.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 168,720 shares of the company’s stock after buying an additional 119,136 shares during the period. XTX Topco Ltd owned 17.22% of Bit Origin worth $29,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bit Origin in a report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Bit Origin Stock Down 12.7%

NASDAQ BTOG traded down $0.45 on Friday, hitting $3.10. 216,909 shares of the company were exchanged, compared to its average volume of 452,734. Bit Origin has a 1-year low of $2.98 and a 1-year high of $166.71. The firm has a 50 day moving average of $4.95 and a two-hundred day moving average of $9.06.

Bit Origin (NASDAQ:BTOG) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($33.33) earnings per share for the quarter.

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.