Two Seas Capital LP Boosts Position in Bit Digital, Inc. (NASDAQ:BTBT)

Two Seas Capital LP increased its position in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 60.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 662,414 shares of the company's stock after purchasing an additional 250,000 shares during the quarter. Bit Digital accounts for 0.2% of Two Seas Capital LP's portfolio, making the stock its 24th largest position. Two Seas Capital LP owned 0.43% of Bit Digital worth $1,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vident Advisory LLC increased its stake in Bit Digital by 56.2% during the fourth quarter. Vident Advisory LLC now owns 3,194,409 shares of the company's stock valued at $9,360,000 after purchasing an additional 1,149,727 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bit Digital by 116.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company's stock worth $5,127,000 after purchasing an additional 943,214 shares during the period. Millennium Management LLC boosted its holdings in shares of Bit Digital by 30.1% in the fourth quarter. Millennium Management LLC now owns 1,437,250 shares of the company's stock valued at $4,211,000 after acquiring an additional 332,513 shares in the last quarter. Exchange Traded Concepts LLC increased its position 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 valued at $2,741,000 after purchasing an additional 25,592 shares during the period. Finally, Northern Trust Corp raised its position in Bit Digital by 3.6% in the fourth quarter. Northern Trust Corp now owns 756,169 shares of the company's stock worth $2,216,000 after acquiring an additional 26,319 shares in the last quarter. Institutional investors and hedge funds own 47.70% of the company's stock.

Wall Street Analysts Forecast Growth

BTBT has been the subject of several research reports. HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Bit Digital in a research note on Monday. Craig Hallum began coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a "buy" rating and a $6.00 price objective on the stock.

Bit Digital Trading Down 1.6%

BTBT stock opened at $2.47 on Wednesday. Bit Digital, Inc. has a 1 year low of $1.69 and a 1 year high of $5.74. The company has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $3.01. The firm has a market cap of $503.26 million, a PE ratio of 41.17 and a beta of 5.25.

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

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.

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