668,691 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new stake in Bit Digital, Inc. (NASDAQ:BTBT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 668,691 shares of the company’s stock, valued at approximately $2,126,000. Squarepoint Ops LLC owned approximately 0.81% of Bit Digital as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BTBT. Marshall Wace LLP acquired a new position in shares of Bit Digital in the second quarter valued at $483,000. Sei Investments Co. acquired a new position in shares of Bit Digital in the 2nd quarter valued at $51,000. Vima LLC lifted its holdings in shares of Bit Digital by 253.0% during the 2nd quarter. Vima LLC now owns 70,721 shares of the company’s stock worth $225,000 after acquiring an additional 50,687 shares during the period. Thoroughbred Financial Services LLC acquired a new stake in shares of Bit Digital during the 2nd quarter valued at about $38,000. Finally, Headlands Technologies LLC bought a new stake in Bit Digital in the second quarter valued at about $910,000. Institutional investors own 47.70% of the company’s stock.

Bit Digital Price Performance

Bit Digital stock opened at $3.35 on Friday. The firm has a market capitalization of $276.32 million, a P/E ratio of 11.17 and a beta of 4.79. The stock has a fifty day moving average price of $3.18 and a two-hundred day moving average price of $2.86. Bit Digital, Inc. has a 52-week low of $1.76 and a 52-week high of $5.27.

Bit Digital (NASDAQ:BTBT) last announced its earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%. The business had revenue of $28.95 million during the quarter, compared to analysts’ expectations of $26.63 million. On average, equities research analysts predict that Bit Digital, Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Bit Digital in a research note on Wednesday, August 21st.

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.