10,000 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC purchased a new stake in Bit Digital, Inc. (NASDAQ:BTBT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bleakley Financial Group LLC acquired a new position in shares of Bit Digital during the first quarter valued at about $33,000. Creative Planning acquired a new position in Bit Digital during the 3rd quarter worth approximately $37,000. Thoroughbred Financial Services LLC bought a new position in Bit Digital in the second quarter worth approximately $38,000. Victory Capital Management Inc. grew its stake in Bit Digital by 39.3% in the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after acquiring an additional 4,380 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Bit Digital during the second quarter valued at approximately $51,000. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Stock Up 17.1 %

Shares of NASDAQ:BTBT opened at $4.10 on Thursday. The business’s 50 day moving average is $3.36 and its 200 day moving average is $3.10. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.27. The stock has a market cap of $293.64 million, a price-to-earnings ratio of 16.42 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%. As a group, equities research analysts expect that Bit Digital, Inc. will post -0.06 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on BTBT shares. HC Wainwright lifted their price target on shares of Bit Digital from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. B. Riley began coverage on shares of Bit Digital in a report on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective for the company.

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.