Savant Capital LLC Purchases New Position in Bit Digital, Inc. $BTBT

Savant Capital LLC acquired a new position in Bit Digital, Inc. (NASDAQ:BTBT) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 27,419 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors also recently bought and sold shares of BTBT. Cerity Partners LLC bought a new stake in Bit Digital during the 1st quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Bit Digital by 2,892.1% during the first quarter. Caitong International Asset Management Co. Ltd now owns 15,200 shares of the company’s stock valued at $31,000 after buying an additional 14,692 shares during the period. Plancorp LLC raised its holdings in shares of Bit Digital by 34.8% in the second quarter. Plancorp LLC now owns 15,500 shares of the company’s stock valued at $34,000 after acquiring an additional 4,000 shares in the last quarter. Ethic Inc. lifted its stake in Bit Digital by 31.8% in the second quarter. Ethic Inc. now owns 19,644 shares of the company’s stock worth $39,000 after acquiring an additional 4,739 shares during the period. Finally, OLD Mission Capital LLC grew its holdings in Bit Digital by 112.6% during the 1st quarter. OLD Mission Capital LLC now owns 22,302 shares of the company’s stock worth $45,000 after acquiring an additional 11,812 shares in the last quarter. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Bit Digital from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a report on Monday, November 17th. Northland Securities set a $5.00 price objective on shares of Bit Digital in a research note on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bit Digital in a research report on Thursday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Bit Digital Stock Up 2.0%

NASDAQ BTBT opened at $2.09 on Friday. The firm has a market cap of $676.48 million, a PE ratio of 4.98 and a beta of 4.79. The company has a 50 day moving average price of $3.29 and a 200 day moving average price of $2.94. Bit Digital, Inc. has a 52 week low of $1.69 and a 52 week high of $5.20.

Bit Digital (NASDAQ:BTBT) last announced its earnings results 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 firm had revenue of $30.46 million during the quarter, compared to analyst estimates of $29.54 million. On average, equities research analysts anticipate that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.

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.