Short Interest in Bit Origin Ltd (NASDAQ:BTOG) Decreases By 10.8%

Bit Origin Ltd (NASDAQ:BTOG) was the target of a large decline in short interest in August. As of August 15th, there was short interest totalling 197,900 shares, a decline of 10.8% from the July 31st total of 221,900 shares. Based on an average daily volume of 275,500 shares, the days-to-cover ratio is currently 0.7 days. Approximately 4.0% of the shares of the company are sold short.

Bit Origin Price Performance

Bit Origin stock traded up $0.03 during midday trading on Tuesday, hitting $1.76. The company’s stock had a trading volume of 49,589 shares, compared to its average volume of 358,621. Bit Origin has a 1-year low of $1.33 and a 1-year high of $9.71. The company has a 50-day moving average price of $2.04 and a two-hundred day moving average price of $3.42.

Hedge Funds Weigh In On Bit Origin

A hedge fund recently bought a new stake in Bit Origin stock. Virtu Financial LLC bought a new stake in Bit Origin Ltd (NASDAQ:BTOG) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 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.