Bit Origin Ltd (NASDAQ:BTOG) Sees Significant Decline in Short Interest

Bit Origin Ltd (NASDAQ:BTOG) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 91,500 shares, a drop of 29.5% from the October 15th total of 129,800 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 52,800 shares, the short-interest ratio is presently 1.7 days.

Bit Origin Trading Down 8.1 %

BTOG stock traded down $0.12 during trading on Friday, hitting $1.37. The company had a trading volume of 179,119 shares, compared to its average volume of 293,814. Bit Origin has a 52-week low of $1.28 and a 52-week high of $9.71. The company has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $2.59.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bit Origin stock. Virtu Financial LLC bought a new position in shares of Bit Origin Ltd (NASDAQ:BTOG) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 11,671 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned approximately 0.34% of Bit Origin at the end of the most recent reporting period. Institutional investors own 1.07% of the company’s stock.

Bit Origin Company Profile

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.