Barclays PLC Raises Stake in Bit Digital, Inc. (NASDAQ:BTBT)

Barclays PLC lifted its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 287,317 shares of the company’s stock after acquiring an additional 52,211 shares during the period. Barclays PLC owned 0.19% of Bit Digital worth $842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BTBT. Tidal Investments LLC lifted its stake in shares of Bit Digital by 22.0% in the 3rd quarter. Tidal Investments LLC now owns 45,800 shares of the company’s stock valued at $161,000 after purchasing an additional 8,250 shares during the last quarter. Ballentine Partners LLC acquired a new position in Bit Digital during the 4th quarter worth about $40,000. SG Americas Securities LLC boosted its holdings in Bit Digital by 427.6% during 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. Exchange Traded Concepts LLC increased its stake in Bit Digital by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company’s stock worth $2,741,000 after purchasing an additional 25,592 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Bit Digital in the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Trading Up 1.3 %

Shares of BTBT opened at $2.01 on Wednesday. Bit Digital, Inc. has a twelve month low of $1.69 and a twelve month high of $5.74. The firm has a market capitalization of $408.52 million, a price-to-earnings ratio of 33.42 and a beta of 5.25. The firm’s fifty day simple moving average is $2.11 and its 200-day simple moving average is $3.14.

Bit Digital (NASDAQ:BTBT) last issued its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The company had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. During the same quarter in the previous year, the company posted ($0.16) EPS. On average, analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on BTBT shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research report on Monday, April 21st. Craig Hallum assumed coverage on Bit Digital in a research note on Tuesday, January 21st. They set a “buy” rating and a $6.00 target price for the company.

Bit Digital Company Profile

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.