Quantbot Technologies LP Buys Shares of 96,590 Bit Digital, Inc. (NASDAQ:BTBT)

Quantbot Technologies LP purchased a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 96,590 shares of the company’s stock, valued at approximately $283,000. Quantbot Technologies LP owned 0.06% of Bit Digital as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Bit Digital by 116.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock valued at $5,127,000 after purchasing an additional 943,214 shares during the period. SG Americas Securities LLC increased its position in shares of Bit Digital by 427.6% during the fourth quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock valued at $643,000 after buying an additional 177,911 shares during the period. Virtu Financial LLC purchased a new stake in shares of Bit Digital in the third quarter worth about $425,000. SBI Securities Co. Ltd. bought a new position in shares of Bit Digital in the fourth quarter valued at approximately $340,000. Finally, Barclays PLC increased its holdings in Bit Digital by 81.4% during the 3rd quarter. Barclays PLC now owns 235,106 shares of the company’s stock worth $826,000 after acquiring an additional 105,484 shares during the period. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Bit Digital Stock Performance

Bit Digital stock opened at $2.10 on Friday. 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 market cap of $322.37 million, a P/E ratio of 35.00 and a beta of 5.13. The firm’s fifty day moving average price is $2.78 and its 200-day moving average price is $3.41.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Craig Hallum initiated coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research note on Monday, March 17th.

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.