Bit Digital, Inc. (NASDAQ:BTBT) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,858,249 shares of the company's stock after selling 613,799 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.21% of Bit Digital worth $5,445,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Bit Digital by 116.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company's stock worth $5,127,000 after buying an additional 943,214 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Bit Digital by 2.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company's stock worth $2,741,000 after acquiring an additional 25,592 shares in the last quarter. Northern Trust Corp grew its position in shares of Bit Digital by 3.6% during the 4th quarter. Northern Trust Corp now owns 756,169 shares of the company's stock valued at $2,216,000 after acquiring an additional 26,319 shares during the period. Two Seas Capital LP raised its holdings in Bit Digital by 60.6% in the 4th quarter. Two Seas Capital LP now owns 662,414 shares of the company's stock worth $1,941,000 after purchasing an additional 250,000 shares during the period. Finally, Uniplan Investment Counsel Inc. raised its holdings in Bit Digital by 5.0% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 358,534 shares of the company's stock worth $1,051,000 after purchasing an additional 17,020 shares during the period. 47.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on BTBT. Craig Hallum began coverage on Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday.

Bit Digital Price Performance

BTBT stock traded down $0.05 during trading on Wednesday, hitting $2.42. The stock had a trading volume of 24,258,332 shares, compared to its average volume of 14,068,473. The company's 50-day moving average price is $2.08 and its two-hundred day moving average price is $3.01. The stock has a market capitalization of $493.08 million, a P/E ratio of 40.33 and a beta of 5.25. Bit Digital, Inc. has a twelve month low of $1.69 and a twelve month high of $5.74.

Bit Digital (NASDAQ:BTBT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, meeting 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 company had revenue of $25.11 million during the quarter, compared to the consensus estimate of $26.38 million. As a group, sell-side analysts expect that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

Bit Digital Company 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.