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

BTC Digital Ltd. (NASDAQ:BTCT) was the target of a significant growth in short interest during 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 short sold. Based on an average daily trading volume, of 2,110,000 shares, the short-interest ratio is presently 0.3 days.

BTC Digital Stock Up 1.9 %

Shares of BTCT stock opened at $4.37 on Friday. BTC Digital has a 52 week low of $1.32 and a 52 week high of $26.58. The firm’s 50-day simple moving average is $5.21 and its two-hundred day simple moving average is $5.48.

Institutional Investors Weigh In On BTC Digital

A number of hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP bought a new position in BTC Digital during the fourth quarter valued at $59,000. Renaissance Technologies LLC bought a new stake in shares of BTC Digital in the fourth quarter valued at $975,000. Finally, Invesco Ltd. purchased a new position in shares of BTC Digital during the 4th quarter valued at $113,000. Institutional investors own 7.32% of the company’s stock.

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.