10,707 Shares in Bit Digital, Inc. (NASDAQ:BTBT) Purchased by Stifel Financial Corp

Stifel Financial Corp bought a new position in Bit Digital, Inc. (NASDAQ:BTBT) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 10,707 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds have also added to or reduced their stakes in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital in the third quarter worth about $35,000. Creative Planning bought a new position in Bit Digital in the 3rd quarter valued at $37,000. Thoroughbred Financial Services LLC bought a new position in Bit Digital in the 2nd quarter valued at $38,000. Victory Capital Management Inc. grew its position in shares of Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after purchasing an additional 4,380 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Bit Digital in the second quarter worth $51,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

BTBT has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research note on Tuesday, November 19th. B. Riley began coverage on Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target for the company.

Bit Digital Stock Performance

Bit Digital stock opened at $3.00 on Tuesday. Bit Digital, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $5.74. The stock has a market cap of $460.53 million, a P/E ratio of 50.00 and a beta of 4.80. The firm’s fifty day moving average price is $4.12 and its 200-day moving average price is $3.58.

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.