Jump Financial LLC purchased a new position in Bit Digital, Inc. (NASDAQ:BTBT – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 302,864 shares of the company’s stock, valued at approximately $887,000. Jump Financial LLC owned approximately 0.20% of Bit Digital at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of BTBT. Walleye Trading LLC bought a new stake in Bit Digital during the 4th quarter worth approximately $66,000. Barclays PLC boosted its holdings in shares of Bit Digital by 22.2% in the fourth quarter. Barclays PLC now owns 287,317 shares of the company’s stock valued at $842,000 after buying an additional 52,211 shares during the period. Phoenix Financial Ltd. increased its position in shares of Bit Digital by 59.6% during the fourth quarter. Phoenix Financial Ltd. now owns 136,558 shares of the company’s stock worth $400,000 after acquiring an additional 50,975 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Bit Digital during the fourth quarter worth $43,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Bit Digital during the fourth quarter worth $37,000. 47.70% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BTBT has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Bit Digital in a report on Monday. Craig Hallum assumed coverage on Bit Digital in a report on Tuesday, January 21st. They set a “buy” rating and a $6.00 price objective for the company.
Bit Digital Price Performance
Bit Digital stock opened at $1.76 on Tuesday. The company has a market cap of $321.65 million, a price-to-earnings ratio of 29.33 and a beta of 6.05. The firm has a 50-day moving average of $2.29 and a 200-day moving average of $3.25. Bit Digital, Inc. has a one year low of $1.69 and a one year high of $5.74.
Bit Digital (NASDAQ:BTBT – Get Free Report) last posted its quarterly earnings results on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The company had revenue of $26.10 million during the quarter, compared to the consensus estimate of $25.06 million. During the same quarter in the prior year, the business earned ($0.16) earnings per share. As a group, sell-side analysts expect that Bit Digital, Inc. will post -0.2 earnings per share 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.
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