New York State Common Retirement Fund Cuts Stock Position in Bit Digital, Inc. (NASDAQ:BTBT)

New York State Common Retirement Fund reduced its position in Bit Digital, Inc. (NASDAQ:BTBT) by 34.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,516 shares of the company’s stock after selling 12,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Bit Digital were worth $72,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BTBT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bit Digital by 192.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock worth $2,831,000 after purchasing an additional 530,411 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Bit Digital in the 3rd quarter worth about $1,222,000. SG Americas Securities LLC boosted its holdings in shares of Bit Digital by 427.6% in the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock worth $643,000 after purchasing an additional 177,911 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Bit Digital in the 3rd quarter worth about $425,000. Finally, Barclays PLC boosted its holdings in shares of Bit Digital by 81.4% in the 3rd quarter. Barclays PLC now owns 235,106 shares of the company’s stock worth $826,000 after purchasing an additional 105,484 shares in the last quarter. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Trading Down 3.6 %

NASDAQ BTBT opened at $2.40 on Friday. Bit Digital, Inc. has a 1-year low of $1.76 and a 1-year high of $5.74. The stock has a 50-day moving average of $3.11 and a 200-day moving average of $3.51. The firm has a market cap of $368.42 million, a PE ratio of 40.00 and a beta of 5.13.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTBT. Craig Hallum began coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a “buy” rating and a $6.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research note on Tuesday, November 19th.

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.