Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) was down 4.1% on Thursday . The company traded as low as $3.54 and last traded at $3.54. Approximately 1,092,352 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 14,964,692 shares. The stock had previously closed at $3.69.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on BTBT shares. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Bit Digital in a research 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 price target on the stock.
Get Our Latest Research Report on Bit Digital
Bit Digital Stock Performance
The stock has a market capitalization of $564.92 million, a PE ratio of 61.33 and a beta of 4.89. The stock's 50 day moving average is $3.96 and its two-hundred day moving average is $3.61.
Hedge Funds Weigh In On Bit Digital
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital during the third quarter worth approximately $35,000. Creative Planning acquired a new stake in Bit Digital during the 3rd quarter worth $37,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Bit Digital during the second quarter worth $38,000. Stifel Financial Corp purchased a new stake in shares of Bit Digital during the third quarter worth $38,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Bit Digital in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 47.70% of the company's stock.
Bit Digital Company Profile
(
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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