Research analysts at HC Wainwright began coverage on shares of Bit Digital (NASDAQ:BTBT) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 45.99% from the company’s previous close.
Bit Digital stock opened at $9.59 on Thursday. Bit Digital has a fifty-two week low of $3.40 and a fifty-two week high of $33.00. The firm’s fifty day moving average price is $10.57 and its 200-day moving average price is $10.92.
A number of large investors have recently made changes to their positions in BTBT. JPMorgan Chase & Co. grew its position in Bit Digital by 3,182.4% in the second quarter. JPMorgan Chase & Co. now owns 9,158 shares of the company’s stock worth $63,000 after acquiring an additional 8,879 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Bit Digital in the second quarter worth $79,000. Keebeck Alpha LP purchased a new position in Bit Digital in the second quarter worth $89,000. UBS Group AG grew its position in Bit Digital by 91.1% in the first quarter. UBS Group AG now owns 6,271 shares of the company’s stock worth $95,000 after acquiring an additional 2,989 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new position in Bit Digital in the second quarter worth $96,000. Institutional investors own 9.70% of the company’s stock.
Bit Digital, Inc operates as a bitcoin mining company. The company was founded in November 2015 and is headquartered in New York, NY.
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