Schonfeld Strategic Advisors LLC Purchases Shares of 125,000 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 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 125,000 shares of the company's stock, valued at approximately $366,000. Schonfeld Strategic Advisors LLC owned about 0.08% of Bit Digital at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in shares of Bit Digital in the 4th quarter worth $31,000. Cibc World Markets Corp acquired a new position in Bit Digital in the fourth quarter valued at about $33,000. Wedbush Securities Inc. bought a new position in Bit Digital during the fourth quarter worth about $37,000. Orion Portfolio Solutions LLC acquired a new position in shares of Bit Digital during the 4th quarter worth about $38,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Bit Digital during the 4th quarter worth about $39,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bit Digital Trading Down 4.5%

Shares of BTBT stock traded down $0.10 during trading hours on Wednesday, hitting $2.14. 15,011,782 shares of the company were exchanged, compared to its average volume of 13,828,576. The business has a 50 day moving average of $2.08 and a two-hundred day moving average of $3.08. Bit Digital, Inc. has a 52 week low of $1.69 and a 52 week high of $5.74. The company has a market capitalization of $436.03 million, a PE ratio of 35.67 and a beta of 5.25.

Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The company had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. During the same period in the previous year, the company posted ($0.16) earnings per share. On average, 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.