Headlands Technologies LLC Invests $88,000 in Bit Digital, Inc. (NASDAQ:BTBT)

Headlands Technologies LLC bought a new position in shares of Bit Digital, Inc. (NASDAQ:BTBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,829 shares of the company’s stock, valued at approximately $88,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. HBW Advisory Services LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $42,000. SG Americas Securities LLC lifted its holdings in shares of Bit Digital by 68.1% during the fourth quarter. SG Americas Securities LLC now owns 46,197 shares of the company’s stock worth $195,000 after buying an additional 18,717 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Bit Digital during the fourth quarter worth $95,000. Barclays PLC lifted its holdings in shares of Bit Digital by 137.0% during the third quarter. Barclays PLC now owns 100,218 shares of the company’s stock worth $214,000 after buying an additional 57,932 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Bit Digital during the third quarter worth $214,000. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Stock Performance

Shares of NASDAQ BTBT opened at $2.04 on Wednesday. Bit Digital, Inc. has a 52 week low of $1.76 and a 52 week high of $5.27. The stock has a market capitalization of $167.85 million, a P/E ratio of -12.72 and a beta of 4.76. The stock’s fifty day moving average is $2.39 and its 200 day moving average is $2.67.

Bit Digital (NASDAQ:BTBT) last released its earnings results on Monday, March 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Bit Digital had a negative return on equity of 6.20% and a negative net margin of 30.93%. The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $12.06 million. Equities research analysts forecast that Bit Digital, Inc. will post 0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Northland Securities assumed coverage on Bit Digital in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $6.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Bit Digital in a research report on Wednesday, March 20th.

Bit Digital 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.