Mitsubishi UFJ Asset Management Co. Ltd. Buys 325,273 Shares of Bit Digital, Inc. $BTBT

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 527.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,984 shares of the company’s stock after buying an additional 325,273 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.12% of Bit Digital worth $847,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cerity Partners LLC acquired a new position in Bit Digital during the first quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of Bit Digital by 2,892.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 15,200 shares of the company’s stock worth $31,000 after purchasing an additional 14,692 shares in the last quarter. Plancorp LLC lifted its holdings in Bit Digital by 34.8% during the 2nd quarter. Plancorp LLC now owns 15,500 shares of the company’s stock valued at $34,000 after purchasing an additional 4,000 shares during the last quarter. Ethic Inc. lifted its holdings in Bit Digital by 31.8% during the 2nd quarter. Ethic Inc. now owns 19,644 shares of the company’s stock valued at $39,000 after purchasing an additional 4,739 shares during the last quarter. Finally, OLD Mission Capital LLC boosted its position in Bit Digital by 112.6% in the first quarter. OLD Mission Capital LLC now owns 22,302 shares of the company’s stock valued at $45,000 after buying an additional 11,812 shares in the last quarter. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Price Performance

BTBT stock opened at $2.41 on Friday. The company has a 50 day moving average price of $3.36 and a 200 day moving average price of $2.93. Bit Digital, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.20. The stock has a market capitalization of $776.36 million, a PE ratio of -7.77 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last released its earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter. Bit Digital had a negative net margin of 52.86% and a negative return on equity of 9.90%. As a group, equities analysts expect that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BTBT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Bit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Bit Digital in a report on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Bit Digital in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

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.