BTC Digital Ltd. (NASDAQ:BTCT) Short Interest Update

BTC Digital Ltd. (NASDAQ:BTCT) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 290,300 shares, a decrease 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 daily volume of 2,280,000 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On BTC Digital

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new stake in shares of BTC Digital during the 4th quarter worth $975,000. Invesco Ltd. bought a new stake in BTC Digital during the fourth quarter worth about $113,000. Finally, Two Sigma Investments LP bought a new stake in BTC Digital during the fourth quarter worth about $59,000. Institutional investors own 7.32% of the company’s stock.

BTC Digital Stock Up 6.6 %

Shares of BTCT opened at $4.34 on Friday. The firm’s 50 day moving average is $5.21 and its 200-day moving average is $5.30. BTC Digital has a 12 month low of $1.32 and a 12 month high of $26.58.

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.