Intech Investment Management LLC Has $133,000 Stake in Bit Digital, Inc. (NASDAQ:BTBT)

Intech Investment Management LLC lifted its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 67.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,291 shares of the company’s stock after purchasing an additional 18,290 shares during the quarter. Intech Investment Management LLC’s holdings in Bit Digital were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in 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 buying an additional 530,411 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Bit Digital in the third quarter worth $38,000. State Street Corp increased its stake in shares of Bit Digital by 1.7% in the third quarter. State Street Corp now owns 5,597,517 shares of the company’s stock worth $19,647,000 after acquiring an additional 94,762 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Bit Digital by 52.4% during the third quarter. XTX Topco Ltd now owns 146,614 shares of the company’s stock worth $515,000 after acquiring an additional 50,400 shares in the last quarter. Finally, Barclays PLC boosted its position in Bit Digital by 81.4% during the third quarter. Barclays PLC now owns 235,106 shares of the company’s stock valued at $826,000 after purchasing an additional 105,484 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Bit Digital Trading Up 0.9 %

BTBT stock opened at $2.27 on Friday. The firm has a market cap of $348.47 million, a PE ratio of 37.83 and a beta of 5.13. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74. The company has a fifty day simple moving average of $2.81 and a 200 day simple moving average of $3.41.

Bit Digital (NASDAQ:BTBT) last announced 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). The company had revenue of $26.10 million during 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 period in the prior year, the firm earned ($0.16) EPS. As a group, analysts forecast that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

Bit Digital 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.