Exchange Traded Concepts LLC Has $2.74 Million Stock Position in Bit Digital, Inc. (NASDAQ:BTBT)

Exchange Traded Concepts LLC grew its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 935,629 shares of the company’s stock after acquiring an additional 25,592 shares during the period. Exchange Traded Concepts LLC owned 0.61% of Bit Digital worth $2,741,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC boosted its position in shares of Bit Digital by 22.0% in the third quarter. Tidal Investments LLC now owns 45,800 shares of the company’s stock valued at $161,000 after acquiring an additional 8,250 shares during the period. Crescent Grove Advisors LLC acquired a new stake in Bit Digital in the 3rd quarter worth about $35,000. Creative Planning acquired a new stake in Bit Digital in the 3rd quarter worth about $37,000. Stifel Financial Corp bought a new stake in Bit Digital in the 3rd quarter valued at about $38,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Bit Digital by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company’s stock worth $141,000 after purchasing an additional 13,170 shares in the last quarter. Institutional investors own 47.70% of the company’s stock.

Bit Digital Trading Up 1.1 %

NASDAQ BTBT opened at $3.69 on Friday. The firm’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $3.62. The firm has a market capitalization of $566.45 million, a price-to-earnings ratio of 61.50 and a beta of 4.89. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research report on Tuesday, November 19th. Craig Hallum assumed coverage on Bit Digital in a report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price objective for the company. Finally, B. Riley initiated coverage on Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 target price for the company.

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.