Bit Digital, Inc. (NASDAQ:BTBT) Short Interest Up 18.0% in September

Bit Digital, Inc. (NASDAQ:BTBTGet Free Report) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 23,910,000 shares, a growth of 18.0% from the August 31st total of 20,260,000 shares. Based on an average trading volume of 11,960,000 shares, the short-interest ratio is currently 2.0 days.

Bit Digital Stock Down 3.6 %

BTBT stock traded down $0.13 during trading on Monday, hitting $3.51. The company had a trading volume of 7,099,765 shares, compared to its average volume of 9,082,405. The firm has a 50-day moving average price of $3.22 and a 200-day moving average price of $2.84. The firm has a market cap of $289.52 million, a PE ratio of 11.93 and a beta of 4.78. Bit Digital has a 1-year low of $1.76 and a 1-year high of $5.27.

Bit Digital (NASDAQ:BTBTGet Free Report) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%. The business had revenue of $28.95 million during the quarter, compared to analysts’ expectations of $26.63 million. Sell-side analysts anticipate that Bit Digital will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Bit Digital

Several institutional investors have recently made changes to their positions in BTBT. Van ECK Associates Corp lifted its stake in shares of Bit Digital by 133.9% in the first quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock valued at $14,351,000 after purchasing an additional 2,862,309 shares during the period. Millennium Management LLC boosted its stake in shares of 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 in the last quarter. Vident Advisory LLC increased its stake in Bit Digital by 79.6% in the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after purchasing an additional 940,161 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in Bit Digital during the fourth quarter worth $3,384,000. Finally, Squarepoint Ops LLC purchased a new stake in Bit Digital during the second quarter worth $2,126,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Bit Digital in a research report on Wednesday, August 21st.

Check Out Our Latest Stock Report on Bit Digital

About Bit Digital

(Get Free Report)

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.

Read More

Receive News & Ratings for Bit Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bit Digital and related companies with MarketBeat.com's FREE daily email newsletter.