Bit Origin (NASDAQ:BTOG) Shares Down 3.5% – Should You Sell?

Bit Origin Limited (NASDAQ:BTOG)’s stock price traded down 3.5% during mid-day trading on Tuesday . The company traded as low as $0.2360 and last traded at $0.2481. 874,982 shares changed hands during trading, a decline of 54% from the average session volume of 1,902,051 shares. The stock had previously closed at $0.2570.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Bit Origin in a research report on Monday. Wall Street Zen raised Bit Origin to a “sell” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Bit Origin Stock Down 3.5%

The stock’s 50 day moving average is $0.37 and its 200-day moving average is $0.33.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently bought a new position in Bit Origin stock. Virtu Financial LLC acquired a new position in Bit Origin Limited (NASDAQ:BTOG) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 218,114 shares of the company’s stock, valued at approximately $41,000. Virtu Financial LLC owned approximately 2.70% of Bit Origin at the end of the most recent quarter. Institutional investors own 1.07% of the company’s stock.

About Bit Origin

Bit Origin Ltd, through its subsidiaries, engages in the cryptocurrency mining business in the United States. It is also involved in deploying blockchain technologies. The company was formerly known as China Xiangtai Food Co, Ltd. and changed its name to Bit Origin Ltd in April 2022. Bit Origin Ltd was incorporated in 2018 and is based in Singapore, Singapore.