Charles Schwab Investment Management Inc. Raises Position in Bit Digital, Inc. (NASDAQ:BTBT)

Charles Schwab Investment Management Inc. raised its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 192.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 806,631 shares of the company’s stock after purchasing an additional 530,411 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bit Digital were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 126,101 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Bit Digital by 48.3% during the second quarter. Rhumbline Advisers now owns 158,748 shares of the company’s stock valued at $505,000 after buying an additional 51,695 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Bit Digital by 39.3% during the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after buying an additional 4,380 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Bit Digital during the second quarter valued at approximately $910,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Bit Digital during the second quarter valued at approximately $38,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Stock Performance

Shares of BTBT opened at $4.10 on Monday. The business’s 50-day moving average is $4.10 and its two-hundred day moving average is $3.51. The company has a market capitalization of $338.17 million, a P/E ratio of 68.33 and a beta of 4.80. Bit Digital, Inc. has a fifty-two week low of $1.76 and a fifty-two week high of $5.74.

Analyst Upgrades and Downgrades

BTBT has been the topic of several research analyst reports. B. Riley initiated coverage on Bit Digital in a research note on Thursday, October 24th. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research note on Tuesday, November 19th.

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.