Cibc World Markets Corp Makes New $33,000 Investment in Bit Digital, Inc. (NASDAQ:BTBT)

Cibc World Markets Corp purchased a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) during the 4th quarter, HoldingsChannel reports. The fund purchased 11,215 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Bit Digital by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock valued at $843,000 after buying an additional 6,621 shares in the last quarter. Rhumbline Advisers lifted its holdings in Bit Digital by 4.5% in the 4th quarter. Rhumbline Advisers now owns 156,715 shares of the company’s stock valued at $459,000 after acquiring an additional 6,809 shares during the last quarter. Redmond Asset Management LLC boosted its position in shares of Bit Digital by 3.0% during 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 in the last quarter. Tidal Investments LLC boosted its position in shares of Bit Digital by 22.0% during the 3rd quarter. Tidal Investments LLC now owns 45,800 shares of the company’s stock valued at $161,000 after purchasing an additional 8,250 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Bit Digital in the 3rd quarter worth approximately $38,000. Institutional investors own 47.70% of the company’s stock.

Bit Digital Stock Down 7.5 %

NASDAQ:BTBT opened at $2.10 on Friday. The stock has a fifty day simple moving average of $2.78 and a 200 day simple moving average of $3.41. The firm has a market capitalization of $322.37 million, a price-to-earnings ratio of 35.00 and a beta of 5.13. 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 earnings results on Friday, March 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The firm had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Equities analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Craig Hallum assumed coverage on shares of Bit Digital in a research note on Tuesday, January 21st. They set a “buy” rating and a $6.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a report on Monday, March 17th.

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.