Short Interest in Bit Origin Limited (NASDAQ:BTOG) Increases By 334.1%

Bit Origin Limited (NASDAQ:BTOG) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 381,817 shares, a growth of 334.1% from the June 15th total of 87,950 shares. Based on an average daily volume of 3,160,048 shares, the short-interest ratio is currently 0.1 days. Currently, 39.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently raised its stake in Bit Origin stock. XTX Topco Ltd grew its position in shares of Bit Origin Limited (NASDAQ:BTOG) by 240.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 168,720 shares of the company’s stock after acquiring an additional 119,136 shares during the quarter. XTX Topco Ltd owned 17.22% of Bit Origin worth $29,000 at the end of the most recent reporting period. 1.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Bit Origin Price Performance

NASDAQ BTOG traded down $0.12 on Monday, reaching $0.97. The company had a trading volume of 282,750 shares, compared to its average volume of 717,252. Bit Origin has a 1-year low of $0.96 and a 1-year high of $60.60. The company’s fifty day moving average is $1.68 and its 200-day moving average is $3.38.

Bit Origin (NASDAQ:BTOG) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($6.67) earnings per share (EPS) for the quarter.

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.