Stifel Financial Corp Acquires Shares of 10,707 Bit Digital, Inc. (NASDAQ:BTBT)

Stifel Financial Corp bought a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,707 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Bit Digital by 25.2% during the 3rd quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock valued at $17,259,000 after purchasing an additional 898,329 shares during the last quarter. Millennium Management LLC boosted its position in shares of Bit Digital by 66.6% during the second quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock valued at $8,225,000 after buying an additional 1,033,767 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Bit Digital by 192.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock valued at $2,831,000 after acquiring an additional 530,411 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Bit Digital during the second quarter valued at about $2,126,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Bit Digital by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company’s stock worth $1,187,000 after buying an additional 126,101 shares in the last quarter. 47.70% of the stock is owned by institutional investors.

Bit Digital Stock Down 5.7 %

NASDAQ BTBT opened at $3.00 on Tuesday. The firm has a market cap of $460.53 million, a P/E ratio of 50.00 and a beta of 4.80. The company’s 50 day moving average is $4.12 and its 200-day moving average is $3.58. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.74.

Analysts Set New Price Targets

Several research firms have weighed in on BTBT. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research report on Tuesday, November 19th. B. Riley began coverage on Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target 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.