Segall Bryant & Hamill LLC Acquires New Stake in Bit Digital, Inc. (NASDAQ:BTBT)

Segall Bryant & Hamill LLC acquired a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 348,025 shares of the company’s stock, valued at approximately $1,222,000.

A number of other hedge funds also recently bought and sold shares of BTBT. Crescent Grove Advisors LLC purchased a new stake in Bit Digital during the third quarter valued at $35,000. Creative Planning bought a new stake in Bit Digital during the third quarter valued at about $37,000. Thoroughbred Financial Services LLC bought a new stake in Bit Digital during the second quarter valued at about $38,000. Victory Capital Management Inc. grew its holdings in Bit Digital by 39.3% during 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. bought a new stake in Bit Digital during the second quarter valued at about $51,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley assumed coverage on Bit Digital in a report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target for the company.

Bit Digital Stock Up 11.3 %

NASDAQ BTBT opened at $4.44 on Friday. The firm has a market cap of $366.21 million, a price-to-earnings ratio of 74.00 and a beta of 4.79. The business has a 50-day moving average price of $3.76 and a 200-day moving average price of $3.29. Bit Digital, Inc. has a twelve month low of $1.76 and a twelve month high of $5.74.

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.