22,237 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Acquired by Ethic Inc.

Ethic Inc. purchased a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,237 shares of the company’s stock, valued at approximately $65,000.

A number of other large investors have also made changes to their positions in BTBT. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bit Digital by 116.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock worth $5,127,000 after buying an additional 943,214 shares during the period. Exchange Traded Concepts LLC increased its position in Bit Digital by 2.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company’s stock valued at $2,741,000 after acquiring an additional 25,592 shares in the last quarter. Northern Trust Corp increased its position in Bit Digital by 3.6% in the 4th quarter. Northern Trust Corp now owns 756,169 shares of the company’s stock valued at $2,216,000 after acquiring an additional 26,319 shares in the last quarter. Two Seas Capital LP increased its position in Bit Digital by 60.6% in the 4th quarter. Two Seas Capital LP now owns 662,414 shares of the company’s stock valued at $1,941,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its position in shares of Bit Digital by 5.0% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 358,534 shares of the company’s stock worth $1,051,000 after buying an additional 17,020 shares during the period. Institutional investors and hedge funds own 47.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BTBT shares. Craig Hallum initiated coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday, April 21st.

Bit Digital Stock Performance

BTBT stock opened at $2.38 on Monday. The company’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $3.03. Bit Digital, Inc. has a 52 week low of $1.69 and a 52 week high of $5.74. The company has a market capitalization of $484.93 million, a PE ratio of 39.67 and a beta of 5.25.

Bit Digital (NASDAQ:BTBT) last posted its earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. On average, analysts forecast that Bit Digital, Inc. will post -0.2 EPS for the current year.

Bit Digital 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.