Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report)'s share price was up 6.1% on Friday . The stock traded as high as $3.36 and last traded at $3.31. Approximately 2,646,713 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 9,120,877 shares. The stock had previously closed at $3.12.
Analysts Set New Price Targets
Several brokerages recently issued reports on BTBT. B. Riley started coverage on Bit Digital in a research report on Thursday, October 24th. They set a "buy" rating and a $6.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Bit Digital in a research note on Tuesday, November 19th.
View Our Latest Analysis on BTBT
Bit Digital Price Performance
The company's 50-day moving average price is $4.04 and its two-hundred day moving average price is $3.57. The company has a market capitalization of $566.45 million, a price-to-earnings ratio of 61.50 and a beta of 4.80.
Institutional Trading of Bit Digital
A number of large investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Bit Digital by 22.0% during the 3rd quarter. Tidal Investments LLC now owns 45,800 shares of the company's stock valued at $161,000 after purchasing an additional 8,250 shares in the last quarter. Virtu Financial LLC acquired a new position in Bit Digital in the third quarter valued at approximately $425,000. Barclays PLC boosted its holdings in shares of Bit Digital by 81.4% during the 3rd quarter. Barclays PLC now owns 235,106 shares of the company's stock worth $826,000 after buying an additional 105,484 shares in the last quarter. Geode Capital Management LLC grew 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 worth $8,512,000 after buying an additional 42,375 shares during the period. Finally, XTX Topco Ltd lifted its position in shares of Bit Digital by 52.4% during the 3rd quarter. XTX Topco Ltd now owns 146,614 shares of the company's stock valued at $515,000 after acquiring an additional 50,400 shares during the period. 47.70% of the stock is currently owned by institutional investors and hedge funds.
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.
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