Bit Digital, Inc. (NASDAQ:BTBT) Sees Large Increase in Short Interest

Bit Digital, Inc. (NASDAQ:BTBT) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 959,200 shares, a growth of 27.2% from the March 15th total of 754,200 shares. Based on an average daily volume of 4,070,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.5% of the shares of the company are sold short.

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Bit Digital by 212.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,227 shares of the company’s stock worth $93,000 after buying an additional 2,874 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Bit Digital during the fourth quarter worth approximately $955,000. Virtu Financial LLC acquired a new stake in Bit Digital during the fourth quarter worth approximately $1,503,000. Jane Street Group LLC acquired a new stake in Bit Digital during the fourth quarter worth approximately $3,313,000. Finally, TB Alternative Assets Ltd. acquired a new stake in Bit Digital during the fourth quarter worth approximately $5,258,000. 0.79% of the stock is currently owned by institutional investors and hedge funds.

Bit Digital stock opened at $11.73 on Wednesday. Bit Digital has a 12 month low of $0.73 and a 12 month high of $33.00. The stock’s 50 day moving average is $15.32 and its 200-day moving average is $12.34.

About Bit Digital

Bit Digital, Inc engages in the bitcoin mining business. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc in September 2020. The company is headquartered in New York, New York.

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