OLD Mission Capital LLC Buys Shares of 10,490 Bit Digital, Inc. (NASDAQ:BTBT)

OLD Mission Capital LLC purchased a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,490 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors have also modified their holdings of BTBT. Charles Schwab Investment Management Inc. raised its holdings in Bit Digital by 192.0% during the third 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 during the last quarter. Stifel Financial Corp acquired a new position in shares of Bit Digital during the 3rd quarter worth $38,000. State Street Corp boosted its position in shares of Bit Digital by 1.7% in the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock worth $19,647,000 after buying an additional 94,762 shares in the last quarter. XTX Topco Ltd grew its stake in Bit Digital by 52.4% in the 3rd quarter. XTX Topco Ltd now owns 146,614 shares of the company’s stock valued at $515,000 after acquiring an additional 50,400 shares during the last quarter. 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 valued at $826,000 after acquiring an additional 105,484 shares in the last quarter. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Bit Digital Price Performance

NASDAQ:BTBT opened at $1.85 on Wednesday. The firm has a market cap of $283.99 million, a PE ratio of 30.83 and a beta of 6.05. The firm has a 50 day simple moving average of $2.55 and a 200-day simple moving average of $3.36. Bit Digital, Inc. has a 1-year low of $1.75 and a 1-year high of $5.74.

Bit Digital (NASDAQ:BTBT) last issued 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 business had revenue of $26.10 million for the quarter, compared to analysts’ expectations 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 company earned ($0.16) EPS. As a group, sell-side analysts expect that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.