Charles Schwab Investment Management Inc. Has $5.13 Million Position in Bit Digital, Inc. (NASDAQ:BTBT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 116.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,749,845 shares of the company’s stock after buying an additional 943,214 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bit Digital were worth $5,127,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Bit Digital by 1.7% in the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after acquiring an additional 94,762 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bit Digital by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock worth $8,512,000 after buying an additional 42,375 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Bit Digital by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company’s stock worth $2,741,000 after acquiring an additional 25,592 shares during the period. Bank of New York Mellon Corp boosted its position in Bit Digital by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after purchasing an additional 6,621 shares during the last quarter. Finally, Redmond Asset Management LLC grew its stake in Bit Digital by 3.0% in the 4th quarter. Redmond Asset Management LLC now owns 259,381 shares of the company’s stock valued at $760,000 after purchasing an additional 7,500 shares during the period. Institutional investors and hedge funds own 47.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BTBT shares. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Bit Digital in a research note on Monday, March 17th. Craig Hallum started coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price objective on the stock.

Bit Digital Price Performance

NASDAQ:BTBT opened at $2.37 on Wednesday. The company has a market capitalization of $363.82 million, a P/E ratio of 39.50 and a beta of 5.13. The business has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $3.43. Bit Digital, Inc. has a 1 year low of $1.76 and a 1 year high of $5.74.

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

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.