Bit Digital, Inc. (NASDAQ:BTBT) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 284.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 139,836 shares of the company’s stock after acquiring an additional 103,458 shares during the quarter. AQR Capital Management LLC’s holdings in Bit Digital were worth $445,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BTBT. Van ECK Associates Corp increased its stake in Bit Digital by 133.9% during the 1st quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after buying an additional 2,862,309 shares during the period. Vident Advisory LLC boosted its holdings in Bit Digital by 79.6% in the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after purchasing an additional 940,161 shares during the period. Squarepoint Ops LLC acquired a new position in Bit Digital during the 2nd quarter worth $2,126,000. Nomura Holdings Inc. acquired a new position in Bit Digital during the 4th quarter worth $1,583,000. Finally, Headlands Technologies LLC purchased a new stake in Bit Digital during the 2nd quarter worth about $910,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Trading Up 8.2 %

Shares of BTBT opened at $3.56 on Wednesday. The firm has a market capitalization of $293.64 million, a price-to-earnings ratio of 11.87 and a beta of 4.79. Bit Digital, Inc. has a twelve month low of $1.76 and a twelve month high of $5.27. The firm’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $2.91.

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

Analyst Upgrades and Downgrades

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

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.