BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Up 55.5% in December

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 390,183 shares, a growth of 55.5% from the November 30th total of 250,961 shares. Based on an average daily trading volume, of 81,978 shares, the short-interest ratio is presently 4.8 days. Approximately 5.2% of the company’s stock are short sold. Approximately 5.2% of the company’s stock are short sold. Based on an average daily trading volume, of 81,978 shares, the short-interest ratio is presently 4.8 days.

Institutional Trading of BTC Digital

A hedge fund recently raised its stake in BTC Digital stock. SBI Securities Co. Ltd. increased its holdings in shares of BTC Digital Ltd. (NASDAQ:BTCT) by 102.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,378 shares of the company’s stock after purchasing an additional 14,378 shares during the period. SBI Securities Co. Ltd. owned approximately 0.38% of BTC Digital worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 7.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BTC Digital in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, BTC Digital presently has an average rating of “Sell”.

BTC Digital Price Performance

Shares of BTCT stock opened at $1.60 on Monday. The company has a market cap of $12.03 million, a price-to-earnings ratio of -1.33 and a beta of 5.55. The stock’s fifty day moving average price is $1.97 and its 200 day moving average price is $2.57. BTC Digital has a 1-year low of $1.57 and a 1-year high of $9.90.

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.