Bit Origin (NASDAQ:BTOG) Trading 3.6% Higher – Still a Buy?

Bit Origin Limited (NASDAQ:BTOG) rose 3.6% during mid-day trading on Friday . The stock traded as high as $0.21 and last traded at $0.18. Approximately 63,880,764 shares changed hands during trading, an increase of 445% from the average daily volume of 11,725,089 shares. The stock had previously closed at $0.17.

Bit Origin Trading Up 3.6%

The firm has a 50-day simple moving average of $0.17 and a 200-day simple moving average of $0.36.

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 stake in shares of Bit Origin Limited (NASDAQ:BTOG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 reporting period. 1.07% of the stock is owned by hedge funds and other institutional investors.

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.