Tidal Investments LLC Acquires 8,250 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Tidal Investments LLC lifted its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 22.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,800 shares of the company’s stock after buying an additional 8,250 shares during the quarter. Tidal Investments LLC’s holdings in Bit Digital were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Bit Digital by 192.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock worth $2,831,000 after purchasing an additional 530,411 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Bit Digital in the 2nd quarter valued at about $2,126,000. Segall Bryant & Hamill LLC bought a new stake in Bit Digital in the 3rd quarter valued at about $1,222,000. Millennium Management LLC raised its stake in Bit Digital by 66.6% during the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock worth $8,225,000 after buying an additional 1,033,767 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Bit Digital by 42.4% in the second quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company’s stock worth $141,000 after acquiring an additional 13,170 shares in the last quarter. Institutional investors own 47.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BTBT shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Bit Digital in a research report on Tuesday, November 19th. 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 on the stock.

Bit Digital Stock Up 4.7 %

Shares of Bit Digital stock opened at $3.33 on Thursday. Bit Digital, Inc. has a 52 week low of $1.76 and a 52 week high of $5.74. The business has a 50 day moving average price of $4.15 and a 200-day moving average price of $3.56. The company has a market cap of $511.18 million, a PE ratio of 55.50 and a beta of 4.80.

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.