Short Interest in BTC Digital Ltd. (NASDAQ:BTCT) Rises By 95.0%

BTC Digital Ltd. (NASDAQ:BTCT) saw a large 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 stock are sold short. Based on an average daily volume of 2,110,000 shares, the days-to-cover ratio is presently 0.3 days.

BTC Digital Price Performance

Shares of BTCT opened at $3.98 on Friday. BTC Digital has a 12 month low of $1.32 and a 12 month high of $26.58. The stock’s 50 day moving average is $5.13 and its two-hundred day moving average is $5.53.

Institutional Investors Weigh In On BTC Digital

Institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP acquired a new position in BTC Digital during the fourth quarter worth $59,000. Invesco Ltd. acquired a new position in shares of BTC Digital during the 4th quarter worth about $113,000. Finally, Renaissance Technologies LLC purchased a new position in BTC Digital in the 4th quarter valued at about $975,000. Institutional investors and hedge funds 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.