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

BTC Digital Ltd. (NASDAQ:BTCT) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 2,900 shares, a decrease of 87.7% from the March 31st total of 23,500 shares. Based on an average daily trading volume, of 34,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.2% of the company’s shares are short sold.

BTC Digital Stock Performance

Shares of BTC Digital stock remained flat at $2.62 during trading hours on Friday. 6,512 shares of the company’s stock were exchanged, compared to its average volume of 47,014. BTC Digital has a 12-month low of $1.75 and a 12-month high of $6.06. The business has a 50 day simple moving average of $3.31 and a two-hundred day simple moving average of $3.67.

BTC Digital Company Profile

BTC Digital Ltd. engages in the cryptocurrency/bitcoin mining business. It also engages 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, the People's Republic of China.