Bit Origin (NASDAQ:BTOG) Shares Up 4.1% – What’s Next?

Bit Origin Limited (NASDAQ:BTOG)’s stock price shot up 4.1% during mid-day trading on Friday . The company traded as high as $1.8563 and last traded at $1.77. 224,978 shares changed hands during mid-day trading, an increase of 173% from the average session volume of 82,355 shares. The stock had previously closed at $1.70.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BTOG. Wall Street Zen raised Bit Origin from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bit Origin in a research note on Friday, May 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Bit Origin Stock Up 4.1%

The firm has a 50 day moving average price of $2.13 and a two-hundred day moving average price of $6.42.

Hedge Funds Weigh In On Bit Origin

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% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,720 shares of the company’s stock after purchasing an additional 119,136 shares during the period. XTX Topco Ltd owned approximately 17.22% of Bit Origin worth $29,000 as of its most recent SEC filing. Institutional investors own 1.07% of the company’s stock.

About Bit Origin

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.