Headlands Technologies LLC Has $728,000 Position in Bit Digital, Inc. (NASDAQ:BTBT)

Headlands Technologies LLC trimmed its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 248,342 shares of the company's stock after selling 129,713 shares during the period. Headlands Technologies LLC owned 0.16% of Bit Digital worth $728,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BTBT. Charles Schwab Investment Management Inc. boosted its stake in Bit Digital by 116.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company's stock valued at $5,127,000 after purchasing an additional 943,214 shares during the period. SG Americas Securities LLC increased its position in Bit Digital by 427.6% in the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock valued at $643,000 after acquiring an additional 177,911 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Bit Digital during the 4th quarter worth $378,000. Virtu Financial LLC bought a new position in shares of Bit Digital in the third quarter worth $425,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Bit Digital during the fourth quarter valued at $340,000. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Stock Up 2.3 %

NASDAQ:BTBT traded up $0.05 during trading hours on Friday, reaching $2.02. 9,360,007 shares of the company's stock were exchanged, compared to its average volume of 13,013,583. The company has a market capitalization of $309.32 million, a P/E ratio of 33.58 and a beta of 6.05. Bit Digital, Inc. has a 12 month low of $1.75 and a 12 month high of $5.74. The business's 50-day simple moving average is $2.62 and its two-hundred day simple moving average is $3.39.

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

Wall Street Analyst Weigh In

BTBT has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Bit Digital in a research note on Monday, March 17th. Craig Hallum assumed coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price objective 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.