Ballentine Partners LLC Makes New Investment in Bit Digital, Inc. (NASDAQ:BTBT)

Ballentine Partners LLC bought a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,509 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors also recently modified their holdings of BTBT. Sei Investments Co. acquired a new stake in Bit Digital in the 2nd quarter worth about $51,000. Marshall Wace LLP bought a new position in shares of Bit Digital during the second quarter worth approximately $483,000. Squarepoint Ops LLC acquired a new stake in shares of Bit Digital in the second quarter valued at approximately $2,126,000. AQR Capital Management LLC raised its position in shares of Bit Digital by 284.4% in the second quarter. AQR Capital Management LLC now owns 139,836 shares of the company’s stock valued at $445,000 after buying an additional 103,458 shares in the last quarter. Finally, Millennium Management LLC boosted its stake 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 buying an additional 1,033,767 shares during the period. Institutional investors own 47.70% of the company’s stock.

Bit Digital Price Performance

NASDAQ BTBT opened at $3.69 on Monday. The business has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.62. The stock has a market capitalization of $566.45 million, a PE ratio of 61.50 and a beta of 4.89. Bit Digital, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $5.74.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Craig Hallum started coverage on Bit Digital in a research note on Tuesday, January 21st. They set a “buy” rating and a $6.00 price objective on the stock. B. Riley started coverage on Bit Digital in a research report on Thursday, October 24th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research report on Tuesday, November 19th.

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.