Bit Digital, Inc. (NASDAQ:BTBT) Position Raised by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its position in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,846 shares of the company’s stock after purchasing an additional 4,389 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Bit Digital were worth $132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Bit Digital by 116.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock worth $5,127,000 after purchasing an additional 943,214 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings 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 in the last quarter. Uniplan Investment Counsel Inc. raised its holdings in Bit Digital by 5.0% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 358,534 shares of the company’s stock worth $1,051,000 after purchasing an additional 17,020 shares in the last quarter. Jump Financial LLC acquired a new position in Bit Digital in the fourth quarter worth approximately $887,000. Finally, Bank of New York Mellon Corp grew its position in Bit Digital by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after buying an additional 6,621 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

BTBT has been the topic of several recent research reports. HC Wainwright restated 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 initiated coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price target on the stock.

Bit Digital Stock Performance

Bit Digital stock opened at $2.38 on Friday. The firm has a market cap of $484.93 million, a price-to-earnings ratio of 39.67 and a beta of 5.25. Bit Digital, Inc. has a 1 year low of $1.69 and a 1 year high of $5.74. The firm’s 50 day moving average price is $2.07 and its two-hundred day moving average price is $3.03.

Bit Digital (NASDAQ:BTBT) last announced its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. As a group, equities analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

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.