Bit Digital, Inc. (NASDAQ:BTBT) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,437,250 shares of the company's stock after purchasing an additional 332,513 shares during the period. Millennium Management LLC owned 0.94% of Bit Digital worth $4,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in Bit Digital by 427.6% in the fourth quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock valued at $643,000 after acquiring an additional 177,911 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in Bit Digital in the fourth quarter valued at approximately $74,000. Gladstone Institutional Advisory LLC acquired a new stake in Bit Digital in the fourth quarter valued at approximately $59,000. Rhumbline Advisers boosted its stake in Bit Digital by 4.5% in the fourth quarter. Rhumbline Advisers now owns 156,715 shares of the company's stock valued at $459,000 after acquiring an additional 6,809 shares in the last quarter. Finally, Redmond Asset Management LLC boosted its stake in Bit Digital by 3.0% in the fourth quarter. Redmond Asset Management LLC now owns 259,381 shares of the company's stock valued at $760,000 after acquiring an additional 7,500 shares in the last quarter. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Trading Up 3.8%

Shares of NASDAQ BTBT traded up $0.09 during midday trading on Tuesday, reaching $2.47. The company had a trading volume of 12,321,591 shares, compared to its average volume of 14,439,990. The business's 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.88. The stock has a market cap of $513.22 million, a P/E ratio of 41.17 and a beta of 5.25. Bit Digital, Inc. has a 1 year low of $1.69 and a 1 year high of $5.74.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The business had revenue of $25.11 million during the quarter, compared to analysts' expectations of $26.38 million. Analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research note on Monday, May 19th.

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.