Bgin Blockchain Limited (NASDAQ:BGIN) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 76.2% to 57,581 shares as of October 15, representing just 0.1% of shares outstanding and a 1.7-day short-interest ratio.
• Weiss Ratings downgraded Bgin Blockchain from “sell (d-)” to “sell (e+),” while the sole covering analyst maintains a Sell rating.
• The stock traded at $1.79, near its one-year low of $1.61, after the company reported a quarterly loss of $0.12 per share on $3.69 million in revenue.

Bgin Blockchain Limited (NASDAQ:BGIN - Get Free Report) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 57,581 shares, a decrease of 76.2% from the September 30th total of 241,932 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 33,036 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Bgin Blockchain from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of "Sell".

Bgin Blockchain Price Performance

Shares of Bgin Blockchain stock traded up $0.05 on Wednesday, reaching $1.79. The company had a trading volume of 8,039 shares, compared to its average volume of 87,237. The firm's 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.55. Bgin Blockchain has a 1 year low of $1.61 and a 1 year high of $4.45.

Bgin Blockchain (NASDAQ:BGIN - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. The company had revenue of $3.69 million for the quarter.

About Bgin Blockchain

Bgin Blockchain Limited is a blockchain technology company focused on cryptocurrency mining and related digital-asset activities. Its business centers on operating and managing mining infrastructure used to support blockchain networks and generate digital assets.

The company may also provide services associated with cryptocurrency mining, including computing-power management and other infrastructure-related solutions. Publicly available information about its specific products, customer base and geographic reach is limited.

Bgin Blockchain Limited is based in Singapore and serves the international digital-asset and blockchain market.

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