Bit Origin (NASDAQ:BTOG) Stock Price Down 6.5% – Time to Sell?

Shares of Bit Origin Ltd (NASDAQ:BTOG) fell 6.5% during mid-day trading on Friday . The stock traded as low as $0.57 and last traded at $0.57. 10,120 shares were traded during trading, a decline of 92% from the average session volume of 124,636 shares. The stock had previously closed at $0.61.

Bit Origin Stock Performance

The company has a debt-to-equity ratio of 3.61, a quick ratio of 2.68 and a current ratio of 2.68. The firm’s 50 day moving average price is $0.94 and its 200-day moving average price is $1.58.

Hedge Funds Weigh In On Bit Origin

An institutional investor recently bought a new position in Bit Origin stock. XTX Topco Ltd bought a new position in shares of Bit Origin Ltd (NASDAQ:BTOG) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,749 shares of the company’s stock, valued at approximately $26,000. XTX Topco Ltd owned 0.16% of Bit Origin at the end of the most recent reporting period. 1.07% of the stock is owned by hedge funds and other institutional investors.

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.