Bank of New York Mellon Corp Buys 126,101 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Bank of New York Mellon Corp grew its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 51.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 373,241 shares of the company’s stock after acquiring an additional 126,101 shares during the period. Bank of New York Mellon Corp owned 0.45% of Bit Digital worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp raised its position in Bit Digital by 133.9% in the 1st quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after purchasing an additional 2,862,309 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Bit Digital by 79.6% in the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock worth $6,089,000 after purchasing an additional 940,161 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $3,384,000. Nomura Holdings Inc. acquired a new position in Bit Digital in the fourth quarter valued at about $1,583,000. Finally, Redmond Asset Management LLC bought a new position in Bit Digital during the fourth quarter worth about $1,146,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Bit Digital in a research report on Wednesday, August 21st.

Bit Digital Trading Up 3.9 %

Shares of BTBT stock opened at $3.17 on Friday. The firm has a market capitalization of $261.47 million, a P/E ratio of 10.37 and a beta of 4.78. The firm’s fifty day moving average price is $3.27 and its two-hundred day moving average price is $2.79. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.27.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $28.95 million during the quarter, compared to analysts’ expectations of $26.63 million. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%. As a group, equities research analysts forecast that Bit Digital, Inc. will post -0.02 EPS for the current fiscal year.

About Bit Digital

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.