Charles Schwab Investment Management Inc. Grows Stock Holdings in Bit Digital, Inc. (NASDAQ:BTBT)

Charles Schwab Investment Management Inc. increased its holdings in Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 116.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,749,845 shares of the company's stock after acquiring an additional 943,214 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.14% of Bit Digital worth $5,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in Bit Digital in the third quarter worth $38,000. SG Americas Securities LLC raised its position in shares of Bit Digital by 427.6% in the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock worth $643,000 after purchasing an additional 177,911 shares during the last quarter. Geode Capital Management LLC boosted its stake in Bit Digital by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock worth $8,512,000 after purchasing an additional 42,375 shares in the last quarter. Barclays PLC grew its position in Bit Digital by 81.4% during the 3rd quarter. Barclays PLC now owns 235,106 shares of the company's stock valued at $826,000 after purchasing an additional 105,484 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Bit Digital during the 4th quarter valued at about $39,000. Institutional investors own 47.70% of the company's stock.

Bit Digital Trading Down 7.5 %

NASDAQ BTBT traded down $0.17 during trading hours on Friday, hitting $2.10. 13,101,915 shares of the company's stock traded hands, compared to its average volume of 12,906,097. Bit Digital, Inc. has a 52 week low of $1.76 and a 52 week high of $5.74. The firm has a market capitalization of $322.37 million, a P/E ratio of 35.00 and a beta of 5.13. The business's fifty day moving average price is $2.78 and its two-hundred day moving average price is $3.41.

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Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its quarterly earnings data on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The business had revenue of $26.10 million for the quarter, compared to the consensus estimate of $25.06 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. During the same period in the previous year, the firm earned ($0.16) EPS. On average, sell-side analysts expect that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BTBT shares. HC Wainwright reissued a "buy" rating and set a $7.00 price target on shares of Bit Digital in a report on Monday, March 17th. Craig Hallum began coverage on Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 target price on the stock.

About Bit Digital

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.