BTC Digital Ltd. (NASDAQ:BTCT) Stock Short Interest Drops 95.2%

BTC Digital Ltd. (NASDAQ:BTCT) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 200,300 shares, a drop of 95.2% from the September 15th total of 4,149,645 shares. Based on an average daily volume of 4,920,560 shares, the days-to-cover ratio is presently 0.0 days. Currently, 2.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BTCT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of BTC Digital in a report on Monday, September 21st. Wall Street Zen upgraded BTC Digital to a “hold” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

BTC Digital Price Performance

Shares of NASDAQ BTCT opened at $1.01 on Friday. The stock has a market capitalization of $9.62 million, a P/E ratio of -0.84 and a beta of 5.80. BTC Digital has a 1-year low of $0.43 and a 1-year high of $3.10. The business’s 50 day moving average is $1.19 and its two-hundred day moving average is $1.13.

About BTC Digital

BTC Digital Limited (NASDAQ: BTCT) is a digital asset technology company focused primarily on cryptocurrency mining and related infrastructure services. Its activities include bitcoin mining, cryptocurrency mining machine hosting, equipment management and maintenance, and other services that support digital asset mining operations.

The company’s business developed from its earlier operations as Meten Holding Group Ltd., a China-based provider of English-language training and educational services.