Bit Origin Ltd (NASDAQ:BTOG) Short Interest Down 29.5% in October

Bit Origin Ltd (NASDAQ:BTOG) saw a significant drop in short interest during 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. Based on an average daily trading volume, of 52,800 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.2% of the company’s shares are sold short.

Bit Origin Price Performance

Shares of BTOG stock traded down $0.25 on Thursday, reaching $1.47. 260,271 shares of the company’s stock were exchanged, compared to its average volume of 294,237. The company’s fifty day simple moving average is $2.10 and its 200 day simple moving average is $2.62. Bit Origin has a 52 week low of $1.38 and a 52 week high of $9.71.

Institutional Inflows and Outflows

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 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,671 shares of the company’s stock, valued at approximately $47,000. Virtu Financial LLC owned 0.34% of Bit Origin at the end of the most recent reporting period. 1.07% of the stock is currently owned by institutional investors and hedge funds.

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.