Bit Digital, Inc. $BTBT Position Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,131,729 shares of the company’s stock after purchasing an additional 273,480 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.05% of Bit Digital worth $4,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Stifel Financial Corp boosted its position in shares of Bit Digital by 31.0% during the 4th 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 increased its stake in Bit Digital by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,846 shares of the company’s stock worth $132,000 after purchasing an additional 4,389 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bit Digital by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 61,711 shares of the company’s stock worth $125,000 after purchasing an additional 6,195 shares in the last quarter. ProShare Advisors LLC increased its stake in Bit Digital by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 33,753 shares of the company’s stock worth $99,000 after purchasing an additional 11,107 shares in the last quarter. Finally, OLD Mission Capital LLC increased its stake in Bit Digital by 112.6% in the 1st quarter. OLD Mission Capital LLC now owns 22,302 shares of the company’s stock worth $45,000 after purchasing an additional 11,812 shares in the last quarter. Institutional investors own 47.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Bit Digital from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $6.33.

Bit Digital Price Performance

NASDAQ BTBT opened at $2.94 on Friday. The company has a 50 day simple moving average of $3.04 and a 200-day simple moving average of $2.53. The firm has a market capitalization of $945.00 million, a price-to-earnings ratio of -9.48 and a beta of 4.77. Bit Digital, Inc. has a 52-week low of $1.69 and a 52-week high of $5.74.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $25.66 million during the quarter, compared to analyst estimates of $27.46 million. Bit Digital had a negative net margin of 52.86% and a negative return on equity of 9.90%. On average, analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.

Insider Activity at Bit Digital

In other news, Director Brock Jeffrey Pierce purchased 500,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was acquired at an average price of $2.00 per share, with a total value of $1,000,000.00. Following the purchase, the director owned 500,000 shares in the company, valued at $1,000,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samir Tabar purchased 750,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of $2.00 per share, with a total value of $1,500,000.00. Following the purchase, the chief executive officer owned 2,108,089 shares in the company, valued at $4,216,178. This represents a 55.22% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

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.