Redmond Asset Management LLC Raises Holdings in Bit Digital, Inc. (NASDAQ:BTBT)

Redmond Asset Management LLC raised its holdings in Bit Digital, Inc. (NASDAQ:BTBT) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,381 shares of the company’s stock after purchasing an additional 7,500 shares during the quarter. Redmond Asset Management LLC’s holdings in Bit Digital were worth $760,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Bit Digital by 4.5% in the 4th quarter. Rhumbline Advisers now owns 156,715 shares of the company’s stock valued at $459,000 after acquiring an additional 6,809 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in Bit Digital in the 4th quarter valued at approximately $59,000. Kingsview Wealth Management LLC purchased a new stake in Bit Digital in the fourth quarter valued at approximately $74,000. Exchange Traded Concepts LLC lifted its stake in Bit Digital by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company’s stock worth $2,741,000 after purchasing an additional 25,592 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Bit Digital by 427.6% during the fourth quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock worth $643,000 after buying an additional 177,911 shares during the period. Institutional investors and hedge funds own 47.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a report on Tuesday, November 19th. Craig Hallum started coverage on shares of Bit Digital in a research note on Tuesday, January 21st. They set a “buy” rating and a $6.00 price target on the stock.

Bit Digital Stock Down 8.1 %

Shares of BTBT stock opened at $2.71 on Friday. The firm has a 50 day moving average of $3.32 and a two-hundred day moving average of $3.54. The stock has a market capitalization of $416.01 million, a PE ratio of 45.17 and a beta of 4.88. Bit Digital, Inc. has a 52 week low of $1.76 and a 52 week high of $5.74.

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.