Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.18, but opened at $3.33. Bit Digital shares last traded at $3.34, with a volume of 3,157,828 shares.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BTBT. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley initiated coverage on shares of Bit Digital in a research note on Thursday, October 24th. They issued a "buy" rating and a $6.00 target price for the company.
Get Our Latest Research Report on BTBT
Bit Digital Trading Up 4.7 %
The stock has a market cap of $511.18 million, a PE ratio of 55.50 and a beta of 4.80. The business has a 50-day moving average price of $4.16 and a 200-day moving average price of $3.56.
Hedge Funds Weigh In On Bit Digital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in Bit Digital by 51.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company's stock worth $1,187,000 after buying an additional 126,101 shares during the last quarter. Rhumbline Advisers raised its stake in Bit Digital by 48.3% in the 2nd 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 last quarter. Victory Capital Management Inc. lifted its holdings in Bit Digital by 39.3% in the 2nd 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 in the last quarter. Headlands Technologies LLC acquired a new stake in Bit Digital during the 2nd quarter worth $910,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Bit Digital during the second quarter worth $38,000. 47.70% of the stock is owned by hedge funds and other institutional investors.
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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