Bit Digital, Inc. (NASDAQ:BTBT – Get Free Report) saw a large decrease in short interest in August. As of August 15th, there was short interest totalling 20,400,000 shares, a decrease of 8.1% from the July 31st total of 22,190,000 shares. Based on an average daily volume of 11,440,000 shares, the days-to-cover ratio is currently 1.8 days.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Simplicity Wealth LLC bought a new stake in Bit Digital during the 1st quarter worth approximately $33,000. Bleakley Financial Group LLC bought a new position in shares of Bit Digital in the first quarter worth $33,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Bit Digital in the second quarter worth $38,000. Gladstone Institutional Advisory LLC bought a new position in Bit Digital in the 4th quarter worth about $42,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Bit Digital in the 4th quarter valued at about $42,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.
Bit Digital Trading Down 0.3 %
Shares of BTBT stock traded down $0.01 during trading hours on Monday, hitting $3.22. 4,541,900 shares of the company were exchanged, compared to its average volume of 9,091,688. The stock has a market capitalization of $265.60 million, a price-to-earnings ratio of 10.73 and a beta of 4.90. The firm has a fifty day simple moving average of $3.42 and a 200 day simple moving average of $2.80. Bit Digital has a 52-week low of $1.76 and a 52-week high of $5.27.
Analysts Set New Price Targets
View Our Latest Analysis on BTBT
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.
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