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

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

A number of other large investors have also recently made changes to their positions in the company. Ethic Inc. purchased a new stake in shares of Bit Digital during the fourth quarter worth approximately $65,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Bit Digital during the fourth quarter worth approximately $486,000. Balyasny Asset Management L.P. purchased a new stake in shares of Bit Digital during the fourth quarter worth approximately $50,000. Bank of America Corp DE increased its stake in shares of Bit Digital by 16.1% during the fourth quarter. Bank of America Corp DE now owns 125,587 shares of the company's stock worth $368,000 after buying an additional 17,374 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Bit Digital during the fourth quarter worth approximately $46,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bit Digital Stock Down 2.0%

Bit Digital stock traded down $0.05 during mid-day trading on Friday, hitting $2.50. The company had a trading volume of 17,044,929 shares, compared to its average volume of 14,221,311. The stock has a market cap of $509.38 million, a price-to-earnings ratio of 41.67 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. The business has a fifty day moving average of $2.09 and a 200 day moving average of $2.99.

Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $25.11 million for the quarter, compared to analyst estimates of $26.38 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. Equities analysts anticipate 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.