BTC Digital Ltd. (NASDAQ:BTCT) Sees Large Decrease in Short Interest
by Sarita Garza · The Markets DailyBTC Digital Ltd. (NASDAQ:BTCT – Get Free Report) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 311,992 shares, a decrease of 42.2% from the February 12th total of 539,703 shares. Based on an average daily volume of 33,589 shares, the short-interest ratio is presently 9.3 days. Approximately 4.2% of the company’s shares are short sold. Approximately 4.2% of the company’s shares are short sold. Based on an average daily volume of 33,589 shares, the short-interest ratio is presently 9.3 days.
BTC Digital Stock Performance
BTCT traded up $0.07 on Friday, reaching $1.32. 148,571 shares of the company’s stock were exchanged, compared to its average volume of 62,675. BTC Digital has a twelve month low of $1.07 and a twelve month high of $4.82. The company’s 50 day moving average is $1.39 and its 200-day moving average is $1.95. The company has a market cap of $9.93 million, a price-to-earnings ratio of -1.10 and a beta of 5.71.
Institutional Investors Weigh In On BTC Digital
A hedge fund recently raised its stake in BTC Digital stock. SBI Securities Co. Ltd. grew its holdings in BTC Digital Ltd. (NASDAQ:BTCT – Free Report) by 102.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,378 shares of the company’s stock after acquiring an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned about 0.38% of BTC Digital worth $89,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.32% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BTC Digital in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BTC Digital presently has a consensus rating of “Sell”.
Read Our Latest Report on BTC Digital
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.