Farther Finance Advisors LLC Purchases Shares of 24,613 Bit Digital, Inc. (NASDAQ:BTBT)

Farther Finance Advisors LLC acquired a new position in Bit Digital, Inc. (NASDAQ:BTBT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 24,613 shares of the company’s stock, valued at approximately $72,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Bit Digital by 116.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock worth $5,127,000 after acquiring an additional 943,214 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Bit Digital in the 4th quarter worth approximately $340,000. Bank of New York Mellon Corp raised its holdings in shares of Bit Digital by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after purchasing an additional 6,621 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Bit Digital during the fourth quarter valued at approximately $39,000. Finally, Redmond Asset Management LLC boosted its holdings in Bit Digital by 3.0% during the fourth quarter. Redmond Asset Management LLC now owns 259,381 shares of the company’s stock worth $760,000 after buying an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BTBT shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a report on Monday, March 17th. Craig Hallum initiated coverage on Bit Digital in a report on Tuesday, January 21st. They set a “buy” rating and a $6.00 target price for the company.

Bit Digital Stock Down 2.9 %

Shares of NASDAQ:BTBT opened at $2.33 on Friday. The company has a market cap of $357.68 million, a P/E ratio of 38.83 and a beta of 5.13. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.74. The company’s fifty day moving average is $2.90 and its two-hundred day moving average is $3.42.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $26.10 million for the quarter, compared to analyst estimates of $25.06 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Equities research analysts anticipate that Bit Digital, Inc. will post -0.2 earnings per share for the current year.

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.