Short Interest in Bit Origin Ltd (NASDAQ:BTOG) Decreases By 21.8%

Bit Origin Ltd (NASDAQ:BTOG) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 154,700 shares, a decrease of 21.8% from the August 15th total of 197,900 shares. Based on an average trading volume of 253,200 shares, the days-to-cover ratio is presently 0.6 days. Currently, 3.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bit Origin stock. Virtu Financial LLC purchased a new position in Bit Origin Ltd (NASDAQ:BTOG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 reporting period. Hedge funds and other institutional investors own 1.07% of the company’s stock.

Bit Origin Stock Performance

Shares of BTOG traded up $0.28 during mid-day trading on Tuesday, hitting $2.50. 138,456 shares of the company’s stock were exchanged, compared to its average volume of 341,505. Bit Origin has a twelve month low of $1.33 and a twelve month high of $9.71. The firm has a fifty day moving average of $1.79 and a two-hundred day moving average of $3.15.

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.