GSA Capital Partners LLP Sells 159,430 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

GSA Capital Partners LLP reduced its holdings in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 49.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,903 shares of the company's stock after selling 159,430 shares during the quarter. GSA Capital Partners LLP's holdings in Bit Digital were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Advisory LLC grew its holdings in Bit Digital by 79.6% during the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company's stock valued at $6,089,000 after purchasing an additional 940,161 shares during the period. PEAK6 Investments LLC bought a new stake in Bit Digital during the first quarter valued at about $214,000. Bank of New York Mellon Corp grew its holdings in Bit Digital by 51.0% during the second quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company's stock valued at $1,187,000 after purchasing an additional 126,101 shares during the period. Rhumbline Advisers grew its holdings in Bit Digital by 48.3% during the second quarter. Rhumbline Advisers now owns 158,748 shares of the company's stock valued at $505,000 after purchasing an additional 51,695 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Bit Digital by 39.3% during the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company's stock valued at $49,000 after purchasing an additional 4,380 shares during the period. Hedge funds and other institutional investors own 47.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BTBT. B. Riley began coverage on Bit Digital in a research note on Thursday, October 24th. They issued a "buy" rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Bit Digital in a research note on Tuesday.

Bit Digital Trading Up 0.5 %

Shares of NASDAQ:BTBT traded up $0.02 during mid-day trading on Wednesday, reaching $4.05. The stock had a trading volume of 24,606,849 shares, compared to its average volume of 10,045,591. The company has a market cap of $334.04 million, a P/E ratio of 67.50 and a beta of 4.79. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74. The business's 50 day moving average price is $3.70 and its 200 day moving average price is $3.27.

Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The business had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%. Analysts predict that Bit Digital, Inc. will post -0.06 earnings per share for the current fiscal year.

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.