BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Down 13.7% in March

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 269,332 shares, a decrease of 13.7% from the February 26th total of 311,992 shares. Based on an average daily volume of 93,353 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BTC Digital in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

BTC Digital Trading Down 0.9%

Shares of BTCT opened at $1.08 on Tuesday. The company has a market cap of $8.12 million, a PE ratio of -0.90 and a beta of 5.71. The stock has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.84. BTC Digital has a 12-month low of $1.07 and a 12-month high of $4.79.

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.