SBI Securities Co. Ltd. Takes Position in Bit Digital, Inc. (NASDAQ:BTBT)

SBI Securities Co. Ltd. acquired a new position in Bit Digital, Inc. (NASDAQ:BTBT) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 116,154 shares of the company’s stock, valued at approximately $340,000.

Several other institutional investors also recently modified their holdings of BTBT. Creative Planning bought a new position in shares of Bit Digital in the third quarter worth approximately $37,000. Van ECK Associates Corp boosted its stake in Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock worth $17,259,000 after buying an additional 898,329 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital during the third quarter valued at approximately $35,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Bit Digital during the third quarter valued at approximately $1,222,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Bit Digital during the third quarter valued at approximately $95,000. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Trading Up 3.8 %

Shares of Bit Digital stock opened at $2.49 on Thursday. The firm has a market capitalization of $382.24 million, a P/E ratio of 41.50 and a beta of 5.13. The business has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $3.51. Bit Digital, Inc. has a 12 month low of $1.76 and a 12 month high of $5.74.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BTBT shares. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research note on Tuesday, November 19th. Craig Hallum assumed coverage on shares of Bit Digital in a report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price target on the stock.

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.