348,025 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new position in Bit Digital, Inc. (NASDAQ:BTBT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 348,025 shares of the company’s stock, valued at approximately $1,222,000.

A number of other hedge funds also recently made changes to their positions in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital in the third quarter worth about $35,000. Van ECK Associates Corp lifted its position in shares of Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock worth $17,259,000 after buying an additional 898,329 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Bit Digital in the third quarter worth about $88,000. Vima LLC raised its position in Bit Digital by 26.5% during the third quarter. Vima LLC now owns 89,469 shares of the company’s stock valued at $314,000 after purchasing an additional 18,748 shares during the period. Finally, Creative Planning purchased a new stake in Bit Digital during the third quarter valued at approximately $37,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Price Performance

Shares of BTBT stock opened at $4.44 on Friday. The stock’s 50 day simple moving average is $3.76 and its two-hundred day simple moving average is $3.29. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74. The company has a market cap of $366.21 million, a PE ratio of 74.00 and a beta of 4.79.

Wall Street Analyst Weigh In

BTBT has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research report on Tuesday, November 19th. B. Riley initiated coverage on Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective on the stock.

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.