Vontobel Holding Ltd. Buys New Position in Bit Digital, Inc. (NASDAQ:BTBT)

Vontobel Holding Ltd. bought a new stake in Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 22,500 shares of the company’s stock, valued at approximately $95,000.

A number of other large investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of 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. Van ECK Associates Corp lifted its position in Bit Digital by 70.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,041,295 shares of the company’s stock worth $4,368,000 after acquiring an additional 842,256 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Bit Digital by 21.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,745,552 shares of the company’s stock worth $7,384,000 after acquiring an additional 304,830 shares during the period. Exchange Traded Concepts LLC lifted its position in Bit Digital by 21.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,061,395 shares of the company’s stock worth $4,490,000 after acquiring an additional 185,560 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in Bit Digital during the 3rd quarter worth approximately $800,000. 47.70% of the stock is owned by institutional investors and hedge funds.

Bit Digital Price Performance

BTBT opened at $2.24 on Thursday. The business has a 50 day simple moving average of $2.44 and a 200-day simple moving average of $2.66. The stock has a market capitalization of $184.76 million, a P/E ratio of -14.00 and a beta of 4.76. Bit Digital, Inc. has a 12 month low of $1.61 and a 12 month high of $5.27.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $12.06 million. Bit Digital had a negative return on equity of 6.20% and a negative net margin of 30.93%. Research analysts anticipate that Bit Digital, Inc. will post 0.02 EPS for the current year.

Analyst Ratings Changes

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

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.