Sei Investments Co. Makes New $51,000 Investment in Bit Digital, Inc. (NASDAQ:BTBT)

Sei Investments Co. purchased a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,133 shares of the company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC acquired a new stake in shares of Bit Digital during the 1st quarter valued at about $33,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Bit Digital during the 2nd quarter valued at about $38,000. Victory Capital Management Inc. grew its position in shares of Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after acquiring an additional 4,380 shares during the period. PEAK6 Investments LLC acquired a new stake in shares of Bit Digital during the 1st quarter valued at about $214,000. Finally, Vima LLC grew its position in shares of Bit Digital by 253.0% during the 2nd quarter. Vima LLC now owns 70,721 shares of the company’s stock valued at $225,000 after acquiring an additional 50,687 shares during the period. 47.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bit Digital Trading Up 6.8 %

Shares of Bit Digital stock opened at $3.16 on Friday. The firm has a market capitalization of $260.64 million, a PE ratio of 13.17 and a beta of 4.79. Bit Digital, Inc. has a twelve month low of $1.76 and a twelve month high of $5.27. The firm’s 50-day moving average price is $3.13 and its 200 day moving average price is $2.90.

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 analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $28.95 million for the quarter, compared to analyst estimates of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%. On average, sell-side analysts predict that Bit Digital, Inc. will post -0.02 EPS 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.