Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) traded up 9.4% on Wednesday . The company traded as high as $3.72 and last traded at $3.71. 10,872,141 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 15,416,030 shares. The stock had previously closed at $3.39.
Analysts Set New Price Targets
A number of analysts have recently issued reports on BTBT shares. B. Riley assumed coverage on Bit Digital in a research report on Thursday, October 24th. They set a "buy" rating and a $6.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research note on Tuesday, November 19th.
Get Our Latest Stock Report on Bit Digital
Bit Digital Price Performance
The stock has a 50 day moving average of $3.98 and a 200 day moving average of $3.61. The firm has a market cap of $566.45 million, a P/E ratio of 61.50 and a beta of 4.89.
Hedge Funds Weigh In On Bit Digital
Several institutional investors have recently modified their holdings of BTBT. Crescent Grove Advisors LLC bought a new stake in Bit Digital in the 3rd quarter worth approximately $35,000. Creative Planning bought a new stake in shares of Bit Digital in the 3rd quarter worth approximately $37,000. Thoroughbred Financial Services LLC bought a new position in shares of Bit Digital during the 2nd quarter valued at $38,000. Stifel Financial Corp purchased a new position in Bit Digital in the 3rd quarter worth $38,000. Finally, Victory Capital Management Inc. raised its position in Bit Digital by 39.3% in the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company's stock worth $49,000 after purchasing an additional 4,380 shares during the period. 47.70% of the stock is currently owned by institutional investors.
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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