Capital Advisors Inc. OK Invests $88,000 in Bit Digital, Inc. (NASDAQ:BTBT)

Capital Advisors Inc. OK acquired a new position in Bit Digital, Inc. (NASDAQ:BTBT) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 25,000 shares of the company’s stock, valued at approximately $88,000.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Bit Digital by 66.6% during the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock worth $8,225,000 after acquiring an additional 1,033,767 shares during the period. Vident Advisory LLC lifted its stake in shares of Bit Digital by 79.6% during the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after buying an additional 940,161 shares in the last quarter. Squarepoint Ops LLC bought a new position in Bit Digital in the 2nd quarter worth $2,126,000. Headlands Technologies LLC purchased a new stake in Bit Digital in the 2nd quarter worth $910,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Bit Digital by 9.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company’s stock valued at $5,483,000 after acquiring an additional 165,044 shares during the period. 47.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BTBT has been the subject of a number of recent analyst reports. HC Wainwright upped their price objective on Bit Digital from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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 target for the company.

Bit Digital Trading Down 6.6 %

Shares of BTBT stock opened at $3.56 on Friday. The stock’s 50-day moving average price is $3.37 and its 200-day moving average price is $3.06. Bit Digital, Inc. has a 12-month low of $1.76 and a 12-month high of $5.27. The stock has a market capitalization of $293.64 million, a price-to-earnings ratio of 14.83 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last posted its earnings results on Monday, August 19th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%. As a group, research analysts predict that Bit Digital, Inc. will post -0.06 EPS for the current fiscal year.

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.