Vident Advisory LLC Purchases 1,149,727 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Vident Advisory LLC raised its position in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,194,409 shares of the company's stock after acquiring an additional 1,149,727 shares during the quarter. Vident Advisory LLC owned approximately 2.08% of Bit Digital worth $9,360,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BTBT. Ballentine Partners LLC bought a new stake in Bit Digital during the 4th quarter valued at approximately $40,000. SG Americas Securities LLC lifted its holdings in shares of Bit Digital by 427.6% during the fourth quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock valued at $643,000 after purchasing an additional 177,911 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Bit Digital by 2.8% during the fourth 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 last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Bit Digital during the fourth quarter valued at approximately $74,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in shares of Bit Digital during the fourth quarter valued at approximately $59,000. 47.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BTBT. Craig Hallum began coverage on shares of Bit Digital in a report on Tuesday, January 21st. They set a "buy" rating and a $6.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Bit Digital in a report on Monday.

Bit Digital Stock Performance

BTBT stock opened at $2.51 on Tuesday. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $3.02. Bit Digital, Inc. has a 52-week low of $1.69 and a 52-week high of $5.74. The firm has a market capitalization of $511.42 million, a price-to-earnings ratio of 41.83 and a beta of 5.25.

Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. As a group, sell-side analysts forecast that Bit Digital, Inc. will post -0.2 earnings per share 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.

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