BTC Digital Ltd. (NASDAQ:BTCT) Sees Large Increase in Short Interest

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

BTC Digital Stock Down 8.9 %

Shares of NASDAQ BTCT traded down $0.39 on Friday, hitting $3.98. The company’s stock had a trading volume of 132,040 shares, compared to its average volume of 1,527,769. The stock has a 50 day moving average of $5.13 and a 200-day moving average of $5.50. BTC Digital has a 12-month low of $1.32 and a 12-month high of $26.58.

Institutional Trading of BTC Digital

A number of institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new position in shares of BTC Digital during the fourth quarter worth $59,000. Invesco Ltd. acquired a new position in BTC Digital in the 4th quarter worth $113,000. Finally, Renaissance Technologies LLC purchased a new position in BTC Digital in the 4th quarter valued at about $975,000. 7.32% of the stock is owned by hedge funds and other institutional investors.

About BTC Digital

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.