BTC Digital Ltd. (NASDAQ:BTCT) Sees Significant Drop in Short Interest

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 502,100 shares, a decrease of 24.7% from the January 31st total of 667,000 shares. Based on an average daily trading volume, of 2,270,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 11.4% of the company’s shares are sold short.

BTC Digital Price Performance

Shares of BTCT stock traded up $0.06 on Wednesday, reaching $4.28. 164,771 shares of the company’s stock were exchanged, compared to its average volume of 3,040,434. The company’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $5.20. BTC Digital has a 52 week low of $1.32 and a 52 week high of $26.58.

Institutional Trading of BTC Digital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP bought a new position in shares of BTC Digital in the fourth quarter worth about $59,000. Renaissance Technologies LLC bought a new position in BTC Digital in the 4th quarter worth about $975,000. Finally, Invesco Ltd. purchased a new position in shares of BTC Digital during the fourth quarter worth approximately $113,000. 7.32% of the stock is currently owned by institutional investors.

BTC Digital Company Profile

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.