BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Update

BTC Digital Ltd. (NASDAQ:BTCT) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 311,992 shares, a decrease of 42.2% from the February 12th total of 539,703 shares. Based on an average trading volume of 33,589 shares, the days-to-cover ratio is currently 9.3 days. Currently, 4.2% of the shares of the stock are short sold. Currently, 4.2% of the shares of the stock are short sold. Based on an average trading volume of 33,589 shares, the days-to-cover ratio is currently 9.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BTC Digital in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

BTC Digital Stock Down 0.9%

Shares of BTCT traded down $0.01 during mid-day trading on Thursday, hitting $1.27. 9,581 shares of the company’s stock were exchanged, compared to its average volume of 81,486. The stock has a market cap of $9.54 million, a price-to-earnings ratio of -1.06 and a beta of 5.71. BTC Digital has a twelve month low of $1.07 and a twelve month high of $4.82. The firm has a fifty day moving average of $1.39 and a two-hundred day moving average of $1.97.

Hedge Funds Weigh In On BTC Digital

An institutional investor recently raised its position in BTC Digital stock. SBI Securities Co. Ltd. lifted its position in BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,378 shares of the company’s stock after purchasing an additional 14,378 shares during the quarter. SBI Securities Co. Ltd. owned 0.38% of BTC Digital worth $89,000 at the end of the most recent reporting period. 7.32% of the stock is currently owned by institutional investors and hedge funds.

BTC Digital Company Profile

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.