GSA Capital Partners LLP Cuts Position in Bit Digital, Inc. (NASDAQ:BTBT)

GSA Capital Partners LLP lessened its holdings in Bit Digital, Inc. (NASDAQ:BTBT) by 49.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,903 shares of the company’s stock after selling 159,430 shares during the period. GSA Capital Partners LLP’s holdings in Bit Digital were worth $565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BTBT. Crescent Grove Advisors LLC acquired a new position in shares of Bit Digital during the 3rd quarter worth approximately $35,000. Creative Planning acquired a new position in Bit Digital in the third quarter valued at approximately $37,000. Thoroughbred Financial Services LLC acquired a new position in Bit Digital in the second quarter valued at approximately $38,000. Victory Capital Management Inc. raised its position 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 purchasing an additional 4,380 shares during the period. Finally, Sei Investments Co. purchased a new stake in Bit Digital in the second quarter valued at approximately $51,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Trading Up 0.2 %

Bit Digital stock opened at $4.03 on Wednesday. Bit Digital, Inc. has a twelve month low of $1.76 and a twelve month high of $5.74. The stock’s fifty day simple moving average is $3.67 and its 200-day simple moving average is $3.26. The firm has a market capitalization of $332.39 million, a P/E ratio of 67.17 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 for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%. The business had revenue of $28.95 million for the quarter, compared to analyst estimates of $26.63 million. Sell-side analysts predict that Bit Digital, Inc. will post -0.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BTBT. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research report on Tuesday. B. Riley assumed coverage on Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective on the stock.

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.