SBI Securities Co. Ltd. Makes New Investment in Bit Digital, Inc. (NASDAQ:BTBT)

SBI Securities Co. Ltd. acquired a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 116,154 shares of the company’s stock, valued at approximately $340,000. SBI Securities Co. Ltd. owned about 0.08% of Bit Digital at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Bit Digital by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after buying an additional 6,621 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Bit Digital by 4.5% in the 4th quarter. Rhumbline Advisers now owns 156,715 shares of the company’s stock worth $459,000 after buying an additional 6,809 shares during the last quarter. Redmond Asset Management LLC boosted its holdings in shares of Bit Digital by 3.0% in the 4th quarter. Redmond Asset Management LLC now owns 259,381 shares of the company’s stock worth $760,000 after buying an additional 7,500 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Bit Digital by 22.0% in the 3rd quarter. Tidal Investments LLC now owns 45,800 shares of the company’s stock worth $161,000 after buying an additional 8,250 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new position in shares of Bit Digital in the 3rd quarter worth about $35,000. 47.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BTBT shares. 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. Craig Hallum started coverage on shares of Bit Digital in a report on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price target on the stock.

Bit Digital Stock Performance

Shares of Bit Digital stock opened at $2.49 on Thursday. The stock’s 50-day simple moving average is $3.13 and its 200 day simple moving average is $3.51. Bit Digital, Inc. has a 52-week low of $1.76 and a 52-week high of $5.74. The stock has a market capitalization of $382.24 million, a P/E ratio of 41.50 and a beta of 5.13.

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.