Exchange Traded Concepts LLC Acquires 25,592 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Exchange Traded Concepts LLC grew its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 935,629 shares of the company’s stock after acquiring an additional 25,592 shares during the period. Exchange Traded Concepts LLC’s holdings in Bit Digital were worth $2,741,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BTBT. State Street Corp lifted its holdings in Bit Digital by 1.7% during the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock worth $19,647,000 after buying an additional 94,762 shares during the period. Van ECK Associates Corp lifted its stake in shares of Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock worth $17,259,000 after acquiring an additional 898,329 shares during the period. Millennium Management LLC lifted its stake in shares of Bit Digital by 66.6% in the second quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock worth $8,225,000 after acquiring an additional 1,033,767 shares during the period. Geode Capital Management LLC boosted its holdings in Bit Digital by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after acquiring an additional 42,375 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Bit Digital by 192.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock valued at $2,831,000 after purchasing an additional 530,411 shares during the period. Institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on BTBT shares. Craig Hallum started coverage on shares of Bit Digital in a report on Tuesday, January 21st. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a report on Tuesday, November 19th. Finally, B. Riley began coverage on Bit Digital in a report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target for the company.

Bit Digital Stock Performance

Bit Digital stock opened at $3.69 on Friday. The stock has a market capitalization of $566.45 million, a price-to-earnings ratio of 61.50 and a beta of 4.89. Bit Digital, Inc. has a 52-week low of $1.76 and a 52-week high of $5.74. The stock’s 50 day moving average price is $3.83 and its two-hundred day moving average price is $3.62.

About Bit Digital

Bit Digital, Inc, together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities; and digital asset staking and digital asset mining businesses, as well as ethereum staking activities. In addition, it provides specialized cloud-infrastructure services for artificial intelligence applications.