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

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

Analysts Set New Price Targets

Several research firms recently commented on BTOG. Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a research report on Friday, May 15th. Wall Street Zen upgraded Bit Origin from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Bit Origin Trading Up 4.1%

The firm has a fifty day simple moving average of $2.13 and a 200-day simple moving average of $6.42.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC grew its position in Bit Origin Limited (NASDAQ:BTOG) by 476.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,491 shares of the company’s stock after acquiring an additional 121,066 shares during the quarter. Virtu Financial LLC owned approximately 14.95% of Bit Origin worth $25,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.07% of the company’s stock.

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.