Bit Origin Limited (NASDAQ:BTOG) Short Interest Update

Bit Origin Limited (NASDAQ:BTOG) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 218,935 shares, a decrease of 41.8% from the December 15th total of 376,013 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 1,464,558 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 1,464,558 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the shares of the stock are sold short.

Bit Origin Stock Performance

NASDAQ:BTOG traded down $0.02 on Friday, reaching $0.10. 9,696,935 shares of the stock traded hands, compared to its average volume of 4,314,463. Bit Origin has a 1-year low of $0.08 and a 1-year high of $1.01. The company’s 50 day moving average is $0.23 and its 200-day moving average is $0.34.

Shares of Bit Origin are going to reverse split on Tuesday, January 20th. The 1-60 reverse split was announced on Thursday, January 15th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, January 19th.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen raised Bit Origin to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Bit Origin in a research report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.