Farther Finance Advisors LLC Buys Shares of 24,613 Bit Digital, Inc. (NASDAQ:BTBT)

Farther Finance Advisors LLC purchased a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 24,613 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Bit Digital by 192.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock valued at $2,831,000 after acquiring an additional 530,411 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Bit Digital during the 3rd quarter worth $38,000. SG Americas Securities LLC raised its holdings in shares of Bit Digital by 427.6% during the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock valued at $643,000 after purchasing an additional 177,911 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Bit Digital during the 3rd quarter valued at $1,222,000. Finally, Geode Capital Management LLC lifted its stake in shares of Bit Digital by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after purchasing an additional 42,375 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

Bit Digital Trading Down 2.9 %

NASDAQ:BTBT opened at $2.33 on Friday. The firm has a market capitalization of $357.68 million, a PE ratio of 38.83 and a beta of 5.13. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74. The firm’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $3.42.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The business had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. During the same period in the prior year, the business posted ($0.16) earnings per share. As a group, analysts anticipate that Bit Digital, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Bit Digital in a report on Monday, March 17th. Craig Hallum initiated coverage on Bit Digital in a research note on Tuesday, January 21st. They issued 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.