Key Points
- CFO Erke Huang sold a total of 1,500,000 shares across Nov. 20–21 (1,089,364 at $2.18 and 410,636 at $2.01) for roughly $3.20 million, trimming his stake to 1,175,000 shares — a 25.9% reduction in ownership.
- Bit Digital reported quarterly EPS of ($0.05) with revenue of $30.46 million (beating the $29.54M estimate); the stock trades near $2.29 with a market cap of about $741 million and a 52-week range of $1.69–$5.20.
- Institutional interest is mixed — Vanguard boosted its stake by 549% to 7.33 million shares while analyst views vary, but the consensus rating is a "Moderate Buy" with an average price target of $6.00.
Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) CFO Erke Huang sold 410,636 shares of the company's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $2.01, for a total value of $825,378.36. Following the completion of the transaction, the chief financial officer owned 1,175,000 shares of the company's stock, valued at $2,361,750. The trade was a 25.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Erke Huang also recently made the following trade(s):
- On Thursday, November 20th, Erke Huang sold 1,089,364 shares of Bit Digital stock. The shares were sold at an average price of $2.18, for a total transaction of $2,374,813.52.
Bit Digital Stock Performance
Shares of NASDAQ:BTBT opened at $2.29 on Tuesday. The firm has a market cap of $741.22 million, a price-to-earnings ratio of 5.45 and a beta of 4.79. The firm has a fifty day moving average price of $3.28 and a 200 day moving average price of $2.95. Bit Digital, Inc. has a fifty-two week low of $1.69 and a fifty-two week high of $5.20.
Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter. Bit Digital had a net margin of 127.61% and a negative return on equity of 7.11%. The company had revenue of $30.46 million during the quarter, compared to the consensus estimate of $29.54 million. As a group, research analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current year.
Hedge Funds Weigh In On Bit Digital
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Bit Digital by 549.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,330,673 shares of the company's stock valued at $21,992,000 after buying an additional 6,201,477 shares during the period. Balyasny Asset Management L.P. bought a new position in Bit Digital during the second quarter valued at $10,385,000. Valiant Capital Management L.P. purchased a new stake in shares of Bit Digital in the second quarter valued at $8,760,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Bit Digital in the 2nd quarter worth about $7,512,000. Finally, Invesco Ltd. boosted its stake in shares of Bit Digital by 42.2% during the 3rd quarter. Invesco Ltd. now owns 8,888,669 shares of the company's stock worth $26,666,000 after purchasing an additional 2,638,003 shares during the period. Institutional investors own 47.70% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on BTBT. Wall Street Zen lowered Bit Digital from a "hold" rating to a "sell" rating in a research note on Saturday. Weiss Ratings reiterated a "hold (c)" rating on shares of Bit Digital in a research report on Thursday. Northland Securities set a $5.00 price target on shares of Bit Digital in a research report on Monday, November 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Bit Digital in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.00.
Check Out Our Latest Report on BTBT
Bit Digital Company Profile
(
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
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
