Bit Origin (NASDAQ:BTOG) Trading Down 10.1% – Should You Sell?

Shares of Bit Origin Ltd (NASDAQ:BTOG) traded down 10.1% on Wednesday . The company traded as low as $0.17 and last traded at $0.18. 6,441,264 shares were traded during trading, an increase of 1% from the average session volume of 6,372,709 shares. The stock had previously closed at $0.20.

Bit Origin Trading Down 10.1 %

The firm has a 50-day moving average of $0.39 and a two-hundred day moving average of $1.15. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 3.61.

Hedge Funds Weigh In On Bit Origin

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

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.