Barclays PLC Increases Position in Bit Digital, Inc. (NASDAQ:BTBT)

Barclays PLC increased its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 81.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,106 shares of the company’s stock after purchasing an additional 105,484 shares during the quarter. Barclays PLC owned 0.15% of Bit Digital worth $826,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Bit Digital by 1.7% in the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after purchasing an additional 94,762 shares in the last quarter. Van ECK Associates Corp increased its holdings in Bit Digital by 25.2% during the 3rd quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock valued at $17,259,000 after acquiring an additional 898,329 shares in the last quarter. Millennium Management LLC increased its holdings in Bit Digital by 66.6% during the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock valued at $8,225,000 after acquiring an additional 1,033,767 shares in the last quarter. Geode Capital Management LLC increased its holdings in Bit Digital by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after acquiring an additional 42,375 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bit Digital by 192.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock valued at $2,831,000 after acquiring an additional 530,411 shares in the last quarter. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley assumed coverage on shares of Bit Digital in a report on Thursday, October 24th. They set a “buy” rating and a $6.00 target price for the company.

Bit Digital Trading Up 8.8 %

NASDAQ:BTBT opened at $3.69 on Thursday. The firm has a 50-day moving average price of $3.98 and a two-hundred day moving average price of $3.61. Bit Digital, Inc. has a twelve month low of $1.76 and a twelve month high of $5.74. The company has a market capitalization of $566.45 million, a P/E ratio of 61.50 and a beta of 4.89.

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.