Vontobel Holding Ltd. Reduces Stake in Bit Digital, Inc. (NASDAQ:BTBT)

Vontobel Holding Ltd. trimmed its position in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 39.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,870 shares of the company’s stock after selling 11,530 shares during the quarter. Vontobel Holding Ltd.’s holdings in Bit Digital were worth $63,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BTBT. Van ECK Associates Corp boosted its position in shares of Bit Digital by 133.9% in the 1st quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after buying an additional 2,862,309 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Bit Digital during the first quarter worth about $33,000. Squarepoint Ops LLC purchased a new stake in shares of Bit Digital in the second quarter valued at about $2,126,000. Millennium Management LLC grew its position in shares of Bit Digital by 66.6% in the second quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock valued at $8,225,000 after purchasing an additional 1,033,767 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Bit Digital by 9.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company’s stock worth $5,483,000 after purchasing an additional 165,044 shares in the last quarter. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Trading Down 3.3 %

Bit Digital stock opened at $3.87 on Thursday. The stock has a 50-day moving average price of $3.26 and a 200 day moving average price of $2.97. Bit Digital, Inc. has a 52 week low of $1.76 and a 52 week high of $5.27. The stock has a market cap of $319.21 million, a PE ratio of 12.90 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $28.95 million during the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%. On average, equities analysts predict that Bit Digital, Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright upped their target price on Bit Digital from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th.

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.