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

BTC Digital Ltd. (NASDAQ:BTCT) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 390,183 shares, an increase of 55.5% from the November 30th total of 250,961 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 81,978 shares, the days-to-cover ratio is presently 4.8 days. Based on an average trading volume of 81,978 shares, the days-to-cover ratio is presently 4.8 days. Currently, 5.2% of the company’s shares are sold short.

BTC Digital Stock Performance

Shares of BTCT stock opened at $1.53 on Tuesday. The firm has a market cap of $11.51 million, a P/E ratio of -1.28 and a beta of 5.55. The firm’s 50 day moving average price is $1.95 and its 200-day moving average price is $2.55. BTC Digital has a one year low of $1.53 and a one year high of $9.90.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BTC Digital stock. SBI Securities Co. Ltd. grew its position in BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,378 shares of the company’s stock after buying an additional 14,378 shares during the quarter. SBI Securities Co. Ltd. owned 0.38% of BTC Digital worth $89,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 7.32% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BTC Digital in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About BTC Digital

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.