Geode Capital Management LLC Purchases 42,375 Shares of Bit Digital, Inc. (NASDAQ:BTBT)

Geode Capital Management LLC lifted its position in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 1.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,425,057 shares of the company’s stock after acquiring an additional 42,375 shares during the period. Geode Capital Management LLC’s holdings in Bit Digital were worth $8,512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BTBT. Victory Capital Management Inc. increased 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 purchasing an additional 4,380 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital in the 3rd quarter worth approximately $35,000. Creative Planning bought a new position in Bit Digital during the 3rd quarter valued at approximately $37,000. Stifel Financial Corp purchased a new position in Bit Digital during the third quarter valued at $38,000. Finally, Thoroughbred Financial Services LLC bought a new stake in Bit Digital in the second quarter worth $38,000. 47.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th. B. Riley started coverage on shares of Bit Digital in a research note on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective for the company.

Bit Digital Trading Up 6.5 %

BTBT stock opened at $3.12 on Friday. The stock’s 50 day simple moving average is $4.04 and its 200 day simple moving average is $3.57. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.74. The stock has a market capitalization of $478.95 million, a PE ratio of 52.00 and a beta of 4.80.

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.