ProShare Advisors LLC Buys 11,107 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

ProShare Advisors LLC grew its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 49.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,753 shares of the company’s stock after purchasing an additional 11,107 shares during the period. ProShare Advisors LLC’s holdings in Bit Digital were worth $99,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BTBT. Kingsview Wealth Management LLC bought a new stake in Bit Digital during the fourth quarter worth about $74,000. Gladstone Institutional Advisory LLC bought a new stake in Bit Digital during the fourth quarter worth about $59,000. Rhumbline Advisers boosted its stake in Bit Digital by 4.5% during the fourth quarter. Rhumbline Advisers now owns 156,715 shares of the company’s stock worth $459,000 after acquiring an additional 6,809 shares in the last quarter. Redmond Asset Management LLC boosted its stake in Bit Digital by 3.0% during the fourth quarter. Redmond Asset Management LLC now owns 259,381 shares of the company’s stock worth $760,000 after acquiring an additional 7,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Bit Digital during the fourth quarter worth about $39,000. Institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research note on Monday, May 19th.

Bit Digital Stock Performance

Shares of NASDAQ BTBT opened at $2.47 on Wednesday. The firm’s 50 day moving average price is $2.10 and its 200-day moving average price is $2.88. The company has a market cap of $513.22 million, a PE ratio of 41.17 and a beta of 5.25. Bit Digital, Inc. has a 52-week low of $1.69 and a 52-week high of $5.74.

Bit Digital (NASDAQ:BTBT) last issued its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $25.11 million for the quarter, compared to the consensus estimate of $26.38 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. On average, analysts forecast that Bit Digital, Inc. will post -0.2 earnings per share 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.