Bit Digital, Inc. (NASDAQ:BTBT) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its position in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 49.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 160,903 shares of the company’s stock after selling 159,430 shares during the quarter. GSA Capital Partners LLP’s holdings in Bit Digital were worth $565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BTBT. Vident Advisory LLC lifted its position in Bit Digital by 79.6% during the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock worth $6,089,000 after acquiring an additional 940,161 shares during the period. PEAK6 Investments LLC acquired a new stake in Bit Digital during the 1st quarter worth about $214,000. Bank of New York Mellon Corp raised its stake in shares of Bit Digital by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company’s stock valued at $1,187,000 after buying an additional 126,101 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Bit Digital by 48.3% during the 2nd quarter. Rhumbline Advisers now owns 158,748 shares of the company’s stock valued at $505,000 after buying an additional 51,695 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake 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 buying an additional 4,380 shares during the last quarter. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Stock Performance

NASDAQ BTBT opened at $4.03 on Wednesday. Bit Digital, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $5.74. The stock has a 50-day simple moving average of $3.67 and a two-hundred day simple moving average of $3.26. The firm has a market capitalization of $332.39 million, a P/E ratio of 67.17 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last announced 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 firm had revenue of $28.95 million during the quarter, compared to analyst estimates of $26.63 million. As a group, analysts forecast that Bit Digital, Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research note on Tuesday. B. Riley assumed coverage on Bit Digital in a research note on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective for the company.

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.