Barclays PLC Buys 105,484 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Barclays PLC grew its stake in Bit Digital, Inc. (NASDAQ:BTBT) by 81.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,106 shares of the company’s stock after buying an additional 105,484 shares during the period. Barclays PLC’s holdings in Bit Digital were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BTBT. Charles Schwab Investment Management Inc. increased its stake in shares of Bit Digital by 192.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company’s stock valued at $2,831,000 after acquiring an additional 530,411 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Bit Digital during the 2nd quarter valued at $2,126,000. Segall Bryant & Hamill LLC bought a new stake in Bit Digital during the 3rd quarter valued at $1,222,000. Millennium Management LLC lifted its position in Bit Digital by 66.6% in the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock valued at $8,225,000 after acquiring an additional 1,033,767 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Bit Digital during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Stock Performance

Shares of BTBT opened at $2.93 on Wednesday. The stock’s 50-day simple moving average is $4.10 and its 200 day simple moving average is $3.58. 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 $449.78 million, a price-to-earnings ratio of 48.83 and a beta of 4.80.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. B. Riley initiated coverage on shares of Bit Digital in a research report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research report on Tuesday, November 19th.

Bit Digital Company 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.