Bit Origin (NASDAQ:BTOG) Trading Down 3.1% – Here’s What Happened

Bit Origin Limited (NASDAQ:BTOG) shares fell 3.1% during trading on Tuesday . The stock traded as low as $1.82 and last traded at $1.90. 55,460 shares traded hands during trading, a decline of 72% from the average daily volume of 199,447 shares. The stock had previously closed at $1.96.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Bit Origin in a report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Bit Origin presently has an average rating of “Sell”.

Bit Origin Stock Performance

The company’s 50-day simple moving average is $1.97 and its 200-day simple moving average is $4.66.

Institutional Investors Weigh In On Bit Origin

An institutional investor recently raised its position in Bit Origin stock. Virtu Financial LLC increased its stake in shares of Bit Origin Limited (NASDAQ:BTOG) by 476.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,491 shares of the company’s stock after buying an additional 121,066 shares during the quarter. Virtu Financial LLC owned about 14.95% of Bit Origin worth $25,000 at the end of the most recent quarter. Institutional investors own 1.07% of the company’s stock.

Bit Origin Company Profile

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.