Short Interest in Bit Origin Ltd (NASDAQ:BTOG) Drops By 12.6%

Bit Origin Ltd (NASDAQ:BTOG) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 124,800 shares, a decline of 12.6% from the September 15th total of 142,800 shares. Based on an average daily volume of 77,700 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.7% of the company’s shares are sold short.

Bit Origin Stock Performance

NASDAQ:BTOG traded down $0.02 during midday trading on Wednesday, hitting $2.13. 40,382 shares of the company traded hands, compared to its average volume of 313,280. The firm’s fifty day moving average is $2.03 and its 200-day moving average is $2.80. Bit Origin has a 12-month low of $1.33 and a 12-month high of $9.71.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently bought a new position in Bit Origin stock. Virtu Financial LLC purchased a new stake in shares of Bit Origin Ltd (NASDAQ:BTOG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 11,671 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned about 0.34% of Bit Origin at the end of the most recent quarter. 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.