Headlands Technologies LLC Sells 129,713 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Headlands Technologies LLC cut its position in Bit Digital, Inc. (NASDAQ:BTBT) by 34.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,342 shares of the company’s stock after selling 129,713 shares during the quarter. Headlands Technologies LLC owned about 0.16% of Bit Digital worth $728,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Bit Digital by 116.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock valued at $5,127,000 after acquiring an additional 943,214 shares during the period. SG Americas Securities LLC grew its holdings in Bit Digital by 427.6% during the fourth quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock worth $643,000 after purchasing an additional 177,911 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Bit Digital during the fourth quarter worth approximately $378,000. Virtu Financial LLC bought a new stake in Bit Digital in the third quarter valued at approximately $425,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Bit Digital in the fourth quarter valued at approximately $340,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BTBT has been the topic of a number of recent analyst reports. Craig Hallum assumed coverage on Bit Digital in a report on Tuesday, January 21st. They set a “buy” rating and a $6.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a report on Monday, March 17th.

Bit Digital Stock Up 2.3 %

Shares of BTBT stock opened at $2.19 on Thursday. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.74. The firm has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $3.40. The company has a market capitalization of $336.18 million, a PE ratio of 36.50 and a beta of 5.13.

Bit Digital (NASDAQ:BTBT) last released its quarterly earnings results on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The firm had revenue of $26.10 million for the quarter, compared to analyst estimates of $25.06 million. During the same period in the previous year, the business posted ($0.16) earnings per share. As a group, research analysts expect that Bit Digital, Inc. will post -0.2 EPS for the current year.

Bit Digital Profile

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.