10,434 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Purchased by Creative Planning

Creative Planning acquired a new position in Bit Digital, Inc. (NASDAQ:BTBT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,434 shares of the company’s stock, valued at approximately $37,000.

Several other large investors also recently bought and sold shares of BTBT. Bleakley Financial Group LLC bought a new position in shares of Bit Digital during the 1st quarter valued at approximately $33,000. Vident Advisory LLC raised its holdings in Bit Digital by 79.6% during the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after buying an additional 940,161 shares during the period. PEAK6 Investments LLC purchased a new stake in Bit Digital during the 1st quarter valued at $214,000. Bank of New York Mellon Corp increased its stake in Bit Digital by 51.0% in the second quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company’s stock worth $1,187,000 after purchasing an additional 126,101 shares during the period. Finally, Rhumbline Advisers increased its stake in Bit Digital by 48.3% in the second quarter. Rhumbline Advisers now owns 158,748 shares of the company’s stock worth $505,000 after purchasing an additional 51,695 shares during the period. 47.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BTBT shares. HC Wainwright increased their price target on Bit Digital from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. B. Riley initiated coverage on Bit Digital in a research note on Thursday, October 24th. They issued a “buy” rating and a $6.00 price objective for the company.

Bit Digital Price Performance

Bit Digital stock opened at $4.64 on Thursday. The stock has a market capitalization of $455.30 million, a PE ratio of 19.33 and a beta of 4.79. Bit Digital, Inc. has a 12 month low of $1.76 and a 12 month high of $5.74. The business has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.19.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping 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 negative return on equity of 1.48% and a net margin of 33.30%. On average, equities research analysts anticipate that Bit Digital, Inc. will post -0.06 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.