SBI Securities Co. Ltd. Sells 4,943 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

SBI Securities Co. Ltd. lowered its holdings in Bit Digital, Inc. (NASDAQ:BTBT) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,211 shares of the company’s stock after selling 4,943 shares during the period. SBI Securities Co. Ltd. owned approximately 0.06% of Bit Digital worth $225,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BTBT. Stifel Financial Corp lifted its holdings in Bit Digital by 31.0% during the fourth quarter. Stifel Financial Corp now owns 14,027 shares of the company’s stock valued at $41,000 after purchasing an additional 3,320 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Bit Digital by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,846 shares of the company’s stock worth $132,000 after buying an additional 4,389 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Bit Digital by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after purchasing an additional 6,621 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Bit Digital by 90.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company’s stock valued at $46,000 after purchasing an additional 7,395 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new position in shares of Bit Digital during the 4th quarter worth $31,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brock Jeffrey Pierce purchased 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the director directly owned 500,000 shares of the company’s stock, valued at approximately $1,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samir Tabar purchased 750,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was acquired at an average price of $2.00 per share, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief executive officer owned 2,108,089 shares of the company’s stock, valued at $4,216,178. This represents a 55.22% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.32% of the company’s stock.

Bit Digital Trading Up 2.0%

Bit Digital stock opened at $4.01 on Friday. Bit Digital, Inc. has a 1-year low of $1.69 and a 1-year high of $5.74. The firm has a market cap of $836.21 million, a P/E ratio of -8.53 and a beta of 5.25. The firm has a 50-day moving average of $2.64 and a 200-day moving average of $2.62.

Bit Digital (NASDAQ:BTBT) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Bit Digital had a negative net margin of 77.27% and a negative return on equity of 10.83%. The company had revenue of $25.11 million during the quarter, compared to analysts’ expectations of $26.38 million. Research analysts forecast that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a research note on Thursday, June 26th.

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.