BTC Digital Ltd. (NASDAQ:BTCT) Shares Shorted: Short Interest Down 95.2% in September

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 200,300 shares, a decrease of 95.2% from the September 15th total of 4,149,645 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 4,920,560 shares, the short-interest ratio is presently 0.0 days.

BTC Digital Stock Performance

Shares of NASDAQ:BTCT traded down $0.04 during midday trading on Friday, reaching $1.01. 556,404 shares of the company’s stock traded hands, compared to its average volume of 3,993,163. The company has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.13. BTC Digital has a 1 year low of $0.43 and a 1 year high of $3.10. The company has a market cap of $9.61 million, a P/E ratio of -0.84 and a beta of 5.80.

Analyst Upgrades and Downgrades

BTCT has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of BTC Digital in a research note on Monday, September 21st. Wall Street Zen raised BTC Digital to a “hold” rating in a report on Saturday, September 5th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

About BTC Digital

BTC Digital Limited (NASDAQ: BTCT) is a digital asset technology company focused primarily on cryptocurrency mining and related infrastructure services. Its activities include bitcoin mining, cryptocurrency mining machine hosting, equipment management and maintenance, and other services that support digital asset mining operations.

The company’s business developed from its earlier operations as Meten Holding Group Ltd., a China-based provider of English-language training and educational services.