Schonfeld Strategic Advisors LLC Makes New Investment in Bit Digital, Inc. (NASDAQ:BTBT)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 125,000 shares of the company's stock, valued at approximately $366,000. Schonfeld Strategic Advisors LLC owned 0.08% of Bit Digital at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Bit Digital by 3.6% during the 4th quarter. Northern Trust Corp now owns 756,169 shares of the company's stock worth $2,216,000 after buying an additional 26,319 shares during the last quarter. Two Seas Capital LP raised its holdings in Bit Digital by 60.6% in the 4th quarter. Two Seas Capital LP now owns 662,414 shares of the company's stock valued at $1,941,000 after acquiring an additional 250,000 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Bit Digital by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,846 shares of the company's stock valued at $132,000 after acquiring an additional 4,389 shares during the period. Uniplan Investment Counsel Inc. lifted its position in Bit Digital by 5.0% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 358,534 shares of the company's stock worth $1,051,000 after acquiring an additional 17,020 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Bit Digital by 31.0% during the fourth quarter. Stifel Financial Corp now owns 14,027 shares of the company's stock worth $41,000 after acquiring an additional 3,320 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BTBT has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research report on Monday, April 21st. Craig Hallum initiated coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price target for the company.

Bit Digital Trading Up 10.4%

Bit Digital stock traded up $0.22 during mid-day trading on Friday, reaching $2.28. The company had a trading volume of 9,403,386 shares, compared to its average volume of 15,127,614. The business has a fifty day simple moving average of $2.07 and a 200 day simple moving average of $3.05. The company has a market cap of $463.53 million, a P/E ratio of 37.92 and a beta of 5.25. Bit Digital, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.74.

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 (EPS) for the quarter, beating 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%. Research analysts forecast that Bit Digital, Inc. will post -0.2 EPS for the current 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.