Thoroughbred Financial Services LLC Takes Position in Bit Digital, Inc. (NASDAQ:BTBT)

Thoroughbred Financial Services LLC acquired a new stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 12,000 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Bit Digital in the 2nd quarter worth $910,000. Victory Capital Management Inc. increased its stake in Bit Digital by 39.3% during the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after acquiring an additional 4,380 shares during the last quarter. Rhumbline Advisers increased its stake in Bit Digital by 48.3% during the second quarter. Rhumbline Advisers now owns 158,748 shares of the company’s stock worth $505,000 after acquiring an additional 51,695 shares during the last quarter. Bank of New York Mellon Corp raised its position in Bit Digital by 51.0% during the second quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company’s stock valued at $1,187,000 after purchasing an additional 126,101 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in shares of Bit Digital in the 1st quarter valued at approximately $214,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Bit Digital Trading Down 2.0 %

Bit Digital stock opened at $2.87 on Thursday. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.27. The firm has a 50-day moving average price of $3.29 and a 200-day moving average price of $2.79. The firm has a market capitalization of $236.73 million, a PE ratio of 9.57 and a beta of 4.78.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.01) earnings per share 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 company had revenue of $28.95 million for the quarter, compared to analyst estimates of $26.63 million. As a group, sell-side analysts predict that Bit Digital, Inc. will post -0.02 earnings per share for the current fiscal year.

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.