Victory Capital Management Inc. Acquires 4,380 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Victory Capital Management Inc. boosted its position in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 39.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,522 shares of the company’s stock after purchasing an additional 4,380 shares during the quarter. Victory Capital Management Inc.’s holdings in Bit Digital were worth $49,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Bit Digital by 133.9% during the first quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after acquiring an additional 2,862,309 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Bit Digital by 79.6% in the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after acquiring an additional 940,161 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bit Digital by 9.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company’s stock valued at $5,483,000 after buying an additional 165,044 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Bit Digital during the 4th quarter worth $3,384,000. Finally, Quadrature Capital Ltd lifted its holdings in shares of Bit Digital by 37.5% during the 4th quarter. Quadrature Capital Ltd now owns 518,035 shares of the company’s stock worth $2,194,000 after acquiring an additional 141,368 shares during the period. Institutional investors own 47.70% of the company’s stock.

Bit Digital Trading Up 4.7 %

Bit Digital stock opened at $3.60 on Wednesday. The company has a market capitalization of $296.94 million, a PE ratio of 12.00 and a beta of 4.79. The stock has a 50-day moving average price of $3.23 and a two-hundred day moving average price of $2.82. Bit Digital, Inc. has a 12 month low of $1.76 and a 12 month high of $5.27.

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

Wall Street Analyst Weigh In

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

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.