Bit Digital, Inc. $BTBT Stake Boosted by Ballentine Partners LLC

Ballentine Partners LLC increased its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 103.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,601 shares of the company’s stock after purchasing an additional 26,230 shares during the quarter. Ballentine Partners LLC’s holdings in Bit Digital were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BTBT. BNP Paribas Financial Markets acquired a new stake in Bit Digital during the 4th quarter worth about $46,000. Bank of America Corp DE boosted its position in Bit Digital by 16.1% during the 4th quarter. Bank of America Corp DE now owns 125,587 shares of the company’s stock worth $368,000 after acquiring an additional 17,374 shares during the period. ProShare Advisors LLC boosted its position in Bit Digital by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 33,753 shares of the company’s stock worth $99,000 after acquiring an additional 11,107 shares during the period. Farther Finance Advisors LLC boosted its position in Bit Digital by 48.7% during the 1st quarter. Farther Finance Advisors LLC now owns 36,596 shares of the company’s stock worth $78,000 after acquiring an additional 11,983 shares during the period. Finally, Byrne Asset Management LLC boosted its position in Bit Digital by 207.7% during the 1st quarter. Byrne Asset Management LLC now owns 17,538 shares of the company’s stock worth $35,000 after acquiring an additional 11,838 shares during the period. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Bit Digital Stock Down 6.3%

Shares of NASDAQ BTBT opened at $3.00 on Wednesday. The business’s 50 day moving average is $2.92 and its two-hundred day moving average is $2.59. The company has a market cap of $964.29 million, a P/E ratio of -9.68 and a beta of 4.77. Bit Digital, Inc. has a 12 month low of $1.69 and a 12 month high of $5.74.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $25.66 million for the quarter, compared to the consensus estimate of $27.46 million. Bit Digital had a negative return on equity of 9.90% and a negative net margin of 52.86%. Sell-side analysts expect that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BTBT has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a report on Monday, August 18th. Wall Street Zen upgraded Bit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $6.33.

Bit Digital 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.