Intech Investment Management LLC Makes New Investment in Bit Digital, Inc. (NASDAQ:BTBT)

Intech Investment Management LLC purchased a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 27,001 shares of the company’s stock, valued at approximately $95,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC bought a new position in Bit Digital in the third quarter worth approximately $1,222,000. Crescent Grove Advisors LLC purchased a new position in shares of Bit Digital in the 3rd quarter worth approximately $35,000. Van ECK Associates Corp grew its holdings in Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock worth $17,259,000 after purchasing an additional 898,329 shares during the last quarter. Capital Advisors Inc. OK acquired a new position in shares of Bit Digital during the third quarter worth $88,000. Finally, Vima LLC lifted its holdings in shares of Bit Digital by 26.5% during the 3rd quarter. Vima LLC now owns 89,469 shares of the company’s stock valued at $314,000 after purchasing an additional 18,748 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors.

Bit Digital Stock Performance

Shares of NASDAQ:BTBT opened at $4.88 on Monday. 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 $4.00 and a 200-day moving average price of $3.45.

Analyst Ratings Changes

Several brokerages have weighed in on BTBT. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley initiated coverage on shares of Bit Digital in a research note on Thursday, October 24th. They issued a “buy” rating and a $6.00 target price for the company.

Bit Digital 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.