BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Up 95.0% in March

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 566,000 shares, a growth of 95.0% from the February 28th total of 290,300 shares. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is presently 0.3 days. Currently, 12.9% of the company’s stock are sold short.

BTC Digital Trading Up 1.9 %

Shares of NASDAQ BTCT opened at $4.37 on Friday. The company has a 50-day moving average price of $5.21 and a 200-day moving average price of $5.48. BTC Digital has a 1 year low of $1.32 and a 1 year high of $26.58.

Hedge Funds Weigh In On BTC Digital

A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new stake in shares of BTC Digital in the fourth quarter worth approximately $59,000. Renaissance Technologies LLC bought a new stake in BTC Digital during the fourth quarter worth $975,000. Finally, Invesco Ltd. purchased a new stake in BTC Digital in the 4th quarter valued at $113,000. Institutional investors and hedge funds own 7.32% of the company’s stock.

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.