Worth Venture Partners LLC Takes Position in Bit Digital, Inc. $BTBT

Worth Venture Partners LLC purchased a new stake in Bit Digital, Inc. (NASDAQ:BTBT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $110,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Bit Digital during the 2nd quarter worth approximately $7,512,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bit Digital by 14.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,131,729 shares of the company’s stock valued at $4,306,000 after buying an additional 273,480 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in Bit Digital during the second quarter worth approximately $1,983,000. Uniplan Investment Counsel Inc. increased its stake in Bit Digital by 203.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 1,089,300 shares of the company’s stock worth $2,200,000 after acquiring an additional 730,766 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Bit Digital by 527.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 386,984 shares of the company’s stock worth $847,000 after acquiring an additional 325,273 shares during the period. Institutional investors and hedge funds own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BTBT. Wall Street Zen downgraded Bit Digital from a “hold” rating to a “sell” rating in a research report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday, November 17th. Northland Securities set a $5.00 price objective on shares of Bit Digital in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bit Digital in a report on Thursday, November 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bit Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Bit Digital Stock Performance

Bit Digital stock opened at $2.26 on Wednesday. Bit Digital, Inc. has a 52 week low of $1.69 and a 52 week high of $5.20. The stock has a market capitalization of $731.49 million, a P/E ratio of 5.38 and a beta of 4.79. The stock has a fifty day moving average of $3.27 and a 200-day moving average of $2.95.

Bit Digital (NASDAQ:BTBT) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter. Bit Digital had a net margin of 127.61% and a negative return on equity of 7.11%. The business had revenue of $30.46 million during the quarter, compared to analyst estimates of $29.54 million. On average, research analysts forecast that Bit Digital, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at Bit Digital

In other news, CFO Erke Huang sold 1,089,364 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $2.18, for a total value of $2,374,813.52. Following the sale, the chief financial officer directly owned 1,585,636 shares in the company, valued at approximately $3,456,686.48. This trade represents a 40.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.