Bit Digital (NASDAQ:BTBT – Get Rating) had its price objective reduced by HC Wainwright from $14.00 to $4.00 in a research note issued to investors on Monday, The Fly reports. HC Wainwright’s price objective suggests a potential upside of 143.90% from the company’s current price.
Separately, Zacks Investment Research raised shares of Bit Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, March 23rd.
Bit Digital stock opened at $1.64 on Monday. The company has a market cap of $131.84 million, a price-to-earnings ratio of 11.71 and a beta of 5.01. Bit Digital has a 12 month low of $1.38 and a 12 month high of $20.74. The business’s 50 day simple moving average is $2.33 and its 200 day simple moving average is $4.36.
A number of institutional investors and hedge funds have recently modified their holdings of BTBT. Invesco Ltd. boosted its stake in shares of Bit Digital by 10,220.9% in the 4th quarter. Invesco Ltd. now owns 3,975,386 shares of the company’s stock worth $24,170,000 after buying an additional 3,936,868 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Bit Digital during the third quarter valued at $7,382,000. Capital Fund Management S.A. bought a new stake in Bit Digital in the 4th quarter valued at $3,507,000. BlackRock Inc. lifted its position in shares of Bit Digital by 53.3% in the fourth quarter. BlackRock Inc. now owns 1,089,591 shares of the company’s stock worth $6,625,000 after buying an additional 378,906 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Bit Digital by 1,697.0% during the 2nd quarter. Morgan Stanley now owns 366,165 shares of the company’s stock valued at $2,505,000 after acquiring an additional 345,789 shares during the last quarter.
Bit Digital Company Profile (Get Rating)
Bit Digital, Inc, together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc in September 2020. Bit Digital, Inc was incorporated in 2017 and is headquartered in New York, New York.
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