Caption Management LLC Has $40,000 Stake in Bit Digital, Inc. $BTBT

Caption Management LLC reduced its stake in shares of Bit Digital, Inc. (NASDAQ:BTBT) by 96.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the company’s stock after selling 599,300 shares during the period. Caption Management LLC’s holdings in Bit Digital were worth $40,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vident Advisory LLC increased its holdings in shares of Bit Digital by 56.2% during the 4th quarter. Vident Advisory LLC now owns 3,194,409 shares of the company’s stock valued at $9,360,000 after acquiring an additional 1,149,727 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Bit Digital by 12.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,965,801 shares of the company’s stock worth $3,971,000 after purchasing an additional 215,956 shares during the period. Millennium Management LLC grew its holdings in Bit Digital by 30.1% during the fourth quarter. Millennium Management LLC now owns 1,437,250 shares of the company’s stock valued at $4,211,000 after purchasing an additional 332,513 shares during the last quarter. Northern Trust Corp raised its position in shares of Bit Digital by 3.6% in the fourth quarter. Northern Trust Corp now owns 756,169 shares of the company’s stock valued at $2,216,000 after purchasing an additional 26,319 shares during the period. Finally, Two Seas Capital LP lifted its stake in shares of Bit Digital by 60.6% in the fourth quarter. Two Seas Capital LP now owns 662,414 shares of the company’s stock worth $1,941,000 after buying an additional 250,000 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.

Analysts Set New Price Targets

BTBT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Bit Digital from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 16th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.33.

Bit Digital Trading Down 1.5%

BTBT opened at $2.57 on Tuesday. The business has a 50 day moving average of $3.00 and a 200-day moving average of $2.53. The stock has a market capitalization of $826.08 million, a price-to-earnings ratio of -8.29 and a beta of 4.77. Bit Digital, Inc. has a 1-year low of $1.69 and a 1-year high of $5.74.

Bit Digital (NASDAQ:BTBT) last released its earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Bit Digital had a negative net margin of 52.86% and a negative return on equity of 9.90%. The firm had revenue of $25.66 million during the quarter, compared to analysts’ expectations of $27.46 million. Equities analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.

Insider Transactions at Bit Digital

In other news, CEO Samir Tabar purchased 750,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. Following the completion of the purchase, the chief executive officer directly owned 2,108,089 shares of the company’s stock, valued at approximately $4,216,178. The trade was a 55.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brock Jeffrey Pierce purchased 500,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director owned 500,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

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.