Headlands Technologies LLC Acquires Shares of 20,829 Bit Digital, Inc. (NASDAQ:BTBT)

Headlands Technologies LLC acquired a new stake in Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 20,829 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors have also recently bought and sold shares of BTBT. SG Americas Securities LLC bought a new position in Bit Digital in the 3rd quarter valued at $59,000. Forum Financial Management LP bought a new position in Bit Digital in the 3rd quarter valued at $214,000. Barclays PLC grew its stake in Bit Digital by 137.0% in the 3rd quarter. Barclays PLC now owns 100,218 shares of the company’s stock valued at $214,000 after purchasing an additional 57,932 shares during the period. Van ECK Associates Corp grew its stake in Bit Digital by 70.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,041,295 shares of the company’s stock valued at $4,368,000 after purchasing an additional 842,256 shares during the period. Finally, Invesco Ltd. grew its stake in Bit Digital by 3,163.5% in the 3rd quarter. Invesco Ltd. now owns 5,661,083 shares of the company’s stock valued at $12,115,000 after purchasing an additional 5,487,615 shares during the period. Institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Northland Securities assumed coverage on Bit Digital in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Bit Digital in a research report on Wednesday, March 20th.

Bit Digital Price Performance

Shares of NASDAQ BTBT opened at $2.04 on Wednesday. Bit Digital, Inc. has a one year low of $1.76 and a one year high of $5.27. The business’s fifty day moving average price is $2.39 and its 200-day moving average price is $2.67. The stock has a market capitalization of $167.85 million, a PE ratio of -12.72 and a beta of 4.76.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Bit Digital had a negative return on equity of 6.20% and a negative net margin of 30.93%. The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $12.06 million. As a group, equities analysts expect that Bit Digital, Inc. will post 0.02 EPS 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.