Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.62, but opened at $3.44. Bit Digital shares last traded at $3.39, with a volume of 1,599,750 shares.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on BTBT. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley assumed coverage on shares of Bit Digital in a research note on Thursday, October 24th. They issued a "buy" rating and a $6.00 price target for the company.
View Our Latest Stock Analysis on Bit Digital
Bit Digital Trading Down 7.2 %
The business's 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $3.60. The firm has a market capitalization of $515.79 million, a PE ratio of 56.00 and a beta of 4.89.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Bit Digital by 66.6% in the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company's stock worth $8,225,000 after purchasing an additional 1,033,767 shares during the period. Van ECK Associates Corp increased its position in Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company's stock worth $17,259,000 after buying an additional 898,329 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bit Digital in the second quarter worth about $2,126,000. Charles Schwab Investment Management Inc. lifted its position in shares of Bit Digital by 192.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company's stock valued at $2,831,000 after buying an additional 530,411 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Bit Digital during the 3rd quarter valued at approximately $1,222,000. Hedge funds and other institutional investors own 47.70% of the company's stock.
About Bit Digital
(
Get 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. In addition, it provides specialized cloud-infrastructure services for artificial intelligence applications.
Further Reading
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