DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Acquires New Holdings in Bit Digital, Inc. (NASDAQ:BTBT)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 165,858 shares of the company's stock, valued at approximately $486,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.11% of Bit Digital as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of Bit Digital by 427.6% during the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock valued at $643,000 after buying an additional 177,911 shares during the last quarter. Barclays PLC boosted its stake in shares of Bit Digital by 81.4% during the 3rd quarter. Barclays PLC now owns 235,106 shares of the company's stock valued at $826,000 after buying an additional 105,484 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Bit Digital by 90.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company's stock valued at $46,000 after buying an additional 7,395 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Bit Digital during the 4th quarter valued at approximately $378,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Bit Digital during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 47.70% of the company's stock.

Bit Digital Price Performance

BTBT traded up $0.32 during trading hours on Friday, hitting $2.38. 23,778,302 shares of the stock were exchanged, compared to its average volume of 14,011,211. The stock has a 50-day simple moving average of $2.07 and a 200-day simple moving average of $3.03. Bit Digital, Inc. has a 12 month low of $1.69 and a 12 month high of $5.74. The stock has a market cap of $484.93 million, a price-to-earnings ratio of 39.67 and a beta of 5.25.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. Sell-side analysts expect that Bit Digital, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on BTBT. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Bit Digital in a research note on Monday, April 21st. Craig Hallum initiated coverage on Bit Digital in a research note on Tuesday, January 21st. They set a "buy" rating and a $6.00 target price for the company.

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.