Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 175,000 Bit Digital, Inc. (NASDAQ:BTBT)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Bit Digital, purchasing 175,000 shares valued at approximately $354,000, representing about 0.09% of the company's stock.
• Bit Digital reported a net loss of $0.05 EPS for the recent quarter, with revenue of $25.11 million falling short of analysts' expectations of $26.38 million.
• The stock price of Bit Digital has declined by 6.5%, with its current trading value at $2.72, while analysts maintain a "buy" rating with a target price of $7.00.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 175,000 shares of the company's stock, valued at approximately $354,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Bit Digital as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BTBT. Cerity Partners LLC acquired a new position in Bit Digital during the first quarter valued at approximately $25,000. OLD Mission Capital LLC bought a new position in Bit Digital in the 4th quarter worth about $31,000. Advance Capital Management Inc. bought a new stake in Bit Digital during the first quarter worth about $31,000. Byrne Asset Management LLC increased its holdings in Bit Digital by 207.7% during the 1st quarter. Byrne Asset Management LLC now owns 17,538 shares of the company's stock valued at $35,000 after purchasing an additional 11,838 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in shares of Bit Digital in the 4th quarter worth approximately $37,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Bit Digital in a research report on Thursday, June 26th.

Bit Digital Stock Performance

Shares of BTBT stock traded down $0.52 during mid-day trading on Thursday, hitting $2.93. 95,291,422 shares of the stock were exchanged, compared to its average volume of 24,224,439. Bit Digital, Inc. has a 12-month low of $1.69 and a 12-month high of $5.74. The stock's fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $2.59. The stock has a market capitalization of $935.88 million, a price-to-earnings ratio of -6.20 and a beta of 4.90.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). Bit Digital had a negative net margin of 77.27% and a negative return on equity of 10.83%. The company had revenue of $25.11 million during the quarter, compared to analysts' expectations of $26.38 million. On average, research analysts expect that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Samir Tabar bought 750,000 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was bought at an average price of $2.00 per share, with a total value of $1,500,000.00. Following the purchase, the chief executive officer directly owned 2,108,089 shares of the company's stock, valued at approximately $4,216,178. This represents a 55.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brock Jeffrey Pierce acquired 500,000 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were bought at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the transaction, the director directly owned 500,000 shares of the company's stock, valued at $1,000,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.32% of the company's stock.

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.