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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new position in BTC Digital in the 4th quarter valued at $59,000. Invesco Ltd. bought a new stake in shares of BTC Digital during the 4th quarter valued at $113,000. Finally, Renaissance Technologies LLC bought a new stake in shares of BTC Digital during the 4th quarter valued at $975,000. 7.32% of the stock is owned by institutional investors and hedge funds.

BTC Digital Stock Up 6.6 %

Shares of NASDAQ BTCT opened at $4.34 on Monday. The stock’s fifty day moving average price is $5.21 and its two-hundred day moving average price is $5.35. BTC Digital has a one year low of $1.32 and a one year 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.