Invesco Ltd. raised its holdings in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 3,163.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,661,083 shares of the company's stock after acquiring an additional 5,487,615 shares during the period. Invesco Ltd. owned about 6.86% of Bit Digital worth $12,115,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BTBT. Citigroup Inc. grew its stake in Bit Digital by 192.2% in the 1st quarter. Citigroup Inc. now owns 12,202 shares of the company's stock valued at $44,000 after purchasing an additional 8,026 shares during the period. State of Wyoming bought a new position in Bit Digital in the 2nd quarter valued at $33,000. Deutsche Bank AG grew its stake in Bit Digital by 26.0% in the 3rd quarter. Deutsche Bank AG now owns 39,378 shares of the company's stock valued at $84,000 after purchasing an additional 8,117 shares during the period. UBS Group AG grew its stake in Bit Digital by 123.5% in the 1st quarter. UBS Group AG now owns 21,598 shares of the company's stock valued at $78,000 after purchasing an additional 11,934 shares during the period. Finally, XTX Topco Ltd bought a new position in Bit Digital in the 1st quarter valued at $43,000. Institutional investors own 24.17% of the company's stock.
Bit Digital Stock Performance
BTBT stock opened at $2.38 on Wednesday. The company has a market capitalization of $195.89 million, a price-to-earnings ratio of -2.55 and a beta of 4.75. Bit Digital, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $5.27. The stock has a fifty day moving average of $3.05 and a 200-day moving average of $2.66.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. HC Wainwright upped their price objective on Bit Digital from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Monday, December 4th. Northland Securities initiated coverage on Bit Digital in a research note on Tuesday, February 13th. They set an "outperform" rating and a $6.00 price target for the company.
Get Our Latest Report on BTBT
About Bit Digital
(
Free Report)
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. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc in September 2020.
Further Reading
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