Bit Digital, Inc. (NASDAQ:BTBT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 65.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,924 shares of the company’s stock after selling 30,814 shares during the period. Wellington Management Group LLP’s holdings in Bit Digital were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BTBT. OLD Mission Capital LLC acquired a new stake in Bit Digital in the 4th quarter worth approximately $31,000. Cibc World Markets Corp acquired a new stake in Bit Digital in the 4th quarter worth approximately $33,000. Wedbush Securities Inc. acquired a new stake in Bit Digital in the 4th quarter worth approximately $37,000. Orion Portfolio Solutions LLC acquired a new stake in Bit Digital in the 4th quarter worth approximately $38,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Bit Digital in the 4th quarter worth approximately $39,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Bit Digital Trading Up 9.1%

BTBT opened at $2.65 on Monday. Bit Digital, Inc. has a 12-month low of $1.69 and a 12-month high of $5.74. The firm has a market capitalization of $550.62 million, a PE ratio of 44.17 and a beta of 5.36. The firm has a 50 day moving average of $2.13 and a two-hundred day moving average of $2.84.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The company had revenue of $25.11 million during the quarter, compared to analyst estimates of $26.38 million. As a group, analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.