Van ECK Associates Corp cut its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,105,836 shares of the company's stock after selling 353,853 shares during the period. Van ECK Associates Corp owned about 2.67% of Bit Digital worth $12,030,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Bit Digital by 42.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company's stock valued at $141,000 after acquiring an additional 13,170 shares in the last quarter. SG Americas Securities LLC increased its stake in Bit Digital by 96.3% in the third quarter. SG Americas Securities LLC now owns 41,609 shares of the company's stock valued at $146,000 after acquiring an additional 20,413 shares during the last quarter. Creative Planning bought a new position in Bit Digital in the 3rd quarter valued at approximately $37,000. Vima LLC increased its position in Bit Digital by 26.5% in the 3rd quarter. Vima LLC now owns 89,469 shares of the company's stock valued at $314,000 after acquiring an additional 18,748 shares during the period. Finally, Capital Advisors Inc. OK bought a new stake in shares of Bit Digital in the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 47.70% of the company's stock.
Bit Digital Stock Up 0.7 %
Shares of BTBT traded up $0.02 during mid-day trading on Wednesday, reaching $3.00. The company had a trading volume of 8,103,551 shares, compared to its average volume of 16,147,073. The stock has a market capitalization of $460.53 million, a P/E ratio of 50.00 and a beta of 4.88. Bit Digital, Inc. has a 52-week low of $1.76 and a 52-week high of $5.74. The stock has a 50 day moving average of $3.40 and a two-hundred day moving average of $3.55.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on BTBT. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of Bit Digital in a research note on Tuesday, November 19th. Craig Hallum started coverage on Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price objective for the company. Finally, B. Riley started coverage on Bit Digital in a report on Thursday, October 24th. They issued a "buy" rating and a $6.00 target price on the stock.
Read Our Latest Stock Analysis on BTBT
About Bit Digital
(
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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