Two Seas Capital LP Buys 250,000 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Two Seas Capital LP raised its position in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 60.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 662,414 shares of the company's stock after purchasing an additional 250,000 shares during the period. Bit Digital comprises approximately 0.2% of Two Seas Capital LP's portfolio, making the stock its 25th biggest holding. Two Seas Capital LP owned 0.43% of Bit Digital worth $1,941,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BTBT. Stifel Financial Corp bought a new position in Bit Digital during the 3rd quarter valued at $38,000. SG Americas Securities LLC increased its stake in Bit Digital by 427.6% during the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock valued at $643,000 after buying an additional 177,911 shares during the period. Geode Capital Management LLC lifted its position in shares of Bit Digital by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock valued at $8,512,000 after acquiring an additional 42,375 shares during the last quarter. Barclays PLC lifted its position in shares of Bit Digital by 81.4% during the 3rd quarter. Barclays PLC now owns 235,106 shares of the company's stock valued at $826,000 after acquiring an additional 105,484 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bit Digital during the 4th quarter valued at $378,000. Institutional investors and hedge funds own 47.70% of the company's stock.

Bit Digital Stock Performance

BTBT traded down $0.07 during trading on Tuesday, reaching $2.04. 3,780,335 shares of the stock were exchanged, compared to its average volume of 13,463,823. The stock's 50 day moving average price is $2.18 and its two-hundred day moving average price is $3.21. Bit Digital, Inc. has a twelve month low of $1.69 and a twelve month high of $5.74. The stock has a market cap of $372.46 million, a P/E ratio of 34.25 and a beta of 6.05.

Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The business had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. During the same quarter last year, the firm earned ($0.16) EPS. Equities research analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.