Short Interest in Bit Origin Ltd (NASDAQ:BTOG) Declines By 23.8%

Bit Origin Ltd (NASDAQ:BTOG) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 272,800 shares, a decrease of 23.8% from the May 31st total of 357,800 shares. Approximately 5.6% of the company’s stock are sold short. Based on an average daily trading volume, of 261,500 shares, the days-to-cover ratio is currently 1.0 days.

Bit Origin Price Performance

Shares of Bit Origin stock traded down $0.81 during trading on Monday, hitting $2.07. 1,782,226 shares of the stock were exchanged, compared to its average volume of 438,959. The firm’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.19. 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 acquired a new stake in Bit Origin Ltd (NASDAQ:BTOG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,671 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned 0.34% of Bit Origin as of its most recent SEC filing. Institutional investors and hedge funds 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.