Short Interest in BTC Digital Ltd. (NASDAQ:BTCT) Decreases By 42.2%

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 290,300 shares, a decline of 42.2% from the February 13th total of 502,100 shares. Based on an average trading volume of 2,280,000 shares, the short-interest ratio is currently 0.1 days. Currently, 6.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BTCT. Two Sigma Investments LP purchased a new stake in shares of BTC Digital in the fourth quarter valued at approximately $59,000. Invesco Ltd. purchased a new stake in BTC Digital in the 4th quarter valued at $113,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of BTC Digital during 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 up $0.27 during trading hours on Friday, reaching $4.34. The company’s stock had a trading volume of 138,377 shares, compared to its average volume of 2,657,532. The stock has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $5.32. 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.