Bit Digital, Inc. $BTBT Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 242.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 600,000 shares of the company’s stock after buying an additional 425,000 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.19% of Bit Digital worth $1,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC boosted its stake in shares of Bit Digital by 17.3% during the second quarter. Kingsview Wealth Management LLC now owns 28,295 shares of the company’s stock worth $62,000 after buying an additional 4,175 shares during the period. American Century Companies Inc. increased its holdings in shares of Bit Digital by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 183,463 shares of the company’s stock valued at $402,000 after purchasing an additional 4,374 shares in the last quarter. Ethic Inc. lifted its stake in shares of Bit Digital by 31.8% in the second quarter. Ethic Inc. now owns 19,644 shares of the company’s stock valued at $39,000 after purchasing an additional 4,739 shares during the period. Legal & General Group Plc grew its position in Bit Digital by 60.2% during the second quarter. Legal & General Group Plc now owns 16,508 shares of the company’s stock worth $36,000 after buying an additional 6,206 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in Bit Digital by 56.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,524 shares of the company’s stock valued at $41,000 after purchasing an additional 6,702 shares in the last quarter. 47.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BTBT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Bit Digital in a report on Monday, December 29th. Northland Securities set a $5.00 price objective on Bit Digital in a research report on Monday, November 17th. Wall Street Zen lowered Bit Digital from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday, November 17th. Finally, Zacks Research downgraded shares of Bit Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.00.

Insider Buying and Selling at Bit Digital

In related news, CFO Erke Huang sold 410,636 shares of Bit Digital stock in a transaction on Friday, November 21st. The stock was sold at an average price of $2.01, for a total value of $825,378.36. Following the transaction, the chief financial officer directly owned 1,175,000 shares in the company, valued at $2,361,750. The trade was a 25.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Bit Digital Stock Performance

Shares of BTBT opened at $2.03 on Friday. The firm has a fifty day moving average of $2.20 and a 200-day moving average of $2.82. The company has a market cap of $657.06 million, a price-to-earnings ratio of 4.83 and a beta of 3.94. Bit Digital, Inc. has a 1 year low of $1.69 and a 1 year high of $4.55.

Bit Digital (NASDAQ:BTBT) last posted its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $30.46 million for the quarter, compared to analyst estimates of $29.54 million. Bit Digital had a net margin of 127.61% and a negative return on equity of 7.11%. Analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.

Bit Digital Profile

Bit Digital, Inc (NASDAQ: BTBT) is a publicly traded digital asset mining company that specializes in the proof-of-work mining of Bitcoin. Incorporated in Nevada and headquartered in New York City, Bit Digital develops, owns and manages a fleet of high-efficiency ASIC miners, with the primary aim of generating newly minted Bitcoin through computational work. The company’s revenue is derived solely from its mining operations and any resulting cryptocurrency holdings.

To support its mining activities, Bit Digital maintains multiple data center facilities across North America.