Bit Digital, Inc. (NASDAQ:BTBT) Shares Purchased by Uniplan Investment Counsel Inc.

Uniplan Investment Counsel Inc. raised its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,534 shares of the company’s stock after buying an additional 17,020 shares during the quarter. Uniplan Investment Counsel Inc. owned about 0.23% of Bit Digital worth $1,051,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BTBT. Stifel Financial Corp purchased a new position in shares of Bit Digital during the third quarter worth $38,000. State Street Corp boosted its holdings in Bit Digital by 1.7% during the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after acquiring an additional 94,762 shares during the period. Barclays PLC grew its position in Bit Digital by 81.4% in 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. Geode Capital Management LLC grew its position in Bit Digital by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after acquiring an additional 42,375 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Bit Digital during the third quarter worth about $425,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Craig Hallum assumed coverage on shares of Bit Digital in a report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research report on Monday.

Bit Digital Stock Performance

Shares of Bit Digital stock opened at $1.85 on Wednesday. The business has a 50-day simple moving average of $2.26 and a 200-day simple moving average of $3.24. Bit Digital, Inc. has a one year low of $1.69 and a one year high of $5.74. The company has a market cap of $338.10 million, a PE ratio of 30.83 and a beta of 6.05.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $25.06 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, sell-side analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

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.