Universal Beteiligungs und Servicegesellschaft mbH Invests $354,000 in 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) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 175,000 shares of the company's stock, valued at approximately $354,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.09% of Bit Digital at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BTBT. ProShare Advisors LLC boosted its stake in Bit Digital by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 33,753 shares of the company's stock worth $99,000 after buying an additional 11,107 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Bit Digital during the fourth quarter worth about $46,000. Tower Research Capital LLC TRC boosted its holdings in Bit Digital by 90.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company's stock valued at $46,000 after purchasing an additional 7,395 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Bit Digital in the 4th quarter worth approximately $378,000. Finally, MetLife Investment Management LLC grew its position in Bit Digital by 18.1% in the fourth quarter. MetLife Investment Management LLC now owns 82,357 shares of the company's stock valued at $241,000 after acquiring an additional 12,640 shares during the period. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Stock Up 1.0%

NASDAQ:BTBT traded up $0.03 during mid-day trading on Tuesday, reaching $3.15. 25,426,558 shares of the company were exchanged, compared to its average volume of 51,405,464. Bit Digital, Inc. has a 12 month low of $1.69 and a 12 month high of $5.74. The stock has a market cap of $1.01 billion, a PE ratio of -6.70 and a beta of 4.90. The company has a fifty day moving average of $2.84 and a 200 day moving average of $2.58.

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

Insider Activity at Bit Digital

In related news, Director Brock Jeffrey Pierce bought 500,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $1,000,000.00. Following the transaction, the director owned 500,000 shares of the company's stock, valued at $1,000,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samir Tabar acquired 750,000 shares of Bit Digital stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. Following the purchase, the chief executive officer directly owned 2,108,089 shares in the company, valued at $4,216,178. The trade was a 55.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 41.30% of the company's stock.

Analyst Upgrades and Downgrades

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

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.