Bgin Blockchain Limited (NASDAQ:BGIN) Short Interest Down 83.7% in August

Bgin Blockchain Limited (NASDAQ:BGIN) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 15,661 shares, a drop of 83.7% from the August 15th total of 95,872 shares. Based on an average daily volume of 9,826 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Bgin Blockchain from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Bgin Blockchain has an average rating of “Sell”.

Hedge Funds Weigh In On Bgin Blockchain

A hedge fund recently bought a new position in Bgin Blockchain stock. Geode Capital Management LLC bought a new position in shares of Bgin Blockchain Limited (NASDAQ:BGIN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,570 shares of the company’s stock, valued at approximately $144,000. Geode Capital Management LLC owned about 0.05% of Bgin Blockchain as of its most recent filing with the Securities and Exchange Commission (SEC).

Bgin Blockchain Stock Performance

Bgin Blockchain stock traded up $0.01 during midday trading on Friday, hitting $1.91. 6,095 shares of the company were exchanged, compared to its average volume of 10,582. Bgin Blockchain has a fifty-two week low of $1.61 and a fifty-two week high of $6.50. The company’s fifty day moving average price is $1.93 and its 200-day moving average price is $2.56.

Bgin Blockchain Company Profile

Through our operating subsidiaries, we are a digital asset technology company based in Singapore, Hong Kong and the U.S. with proprietary cryptocurrency-mining technologies. We were established as a cryptocurrency mining business in 2019. Given our limited financial resources at the time, we decided to focus on selected alternative cryptocurrencies as it was more cost effective. We leveraged our in-house technical expertise to design the software and the chips that could efficiently mine different types of cryptocurrencies that we focused on.