BTC Digital Ltd. (NASDAQ:BTCT) Sees Significant Growth in Short Interest

BTC Digital Ltd. (NASDAQ:BTCT) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 566,000 shares, a growth of 95.0% from the February 28th total of 290,300 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily volume of 2,110,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of BTC Digital

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP acquired a new stake in BTC Digital during the fourth quarter valued at $59,000. Invesco Ltd. acquired a new stake in shares of BTC Digital in the fourth quarter valued at about $113,000. Finally, Renaissance Technologies LLC bought a new position in BTC Digital in the 4th quarter worth approximately $975,000. Hedge funds and other institutional investors own 7.32% of the company’s stock.

BTC Digital Stock Performance

NASDAQ BTCT traded down $0.39 on Friday, reaching $3.98. 132,040 shares of the stock traded hands, compared to its average volume of 1,527,769. The firm’s fifty day simple moving average is $5.13 and its 200 day simple moving average is $5.50. BTC Digital has a 12 month low of $1.32 and a 12 month high of $26.58.

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.