HC Wainwright restated their buy rating on shares of Bit Digital (NASDAQ:BTBT - Free Report) in a report issued on Monday morning,Benzinga reports. They currently have a $7.00 price objective on the stock. HC Wainwright also issued estimates for Bit Digital's Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.09) EPS and FY2026 earnings at ($0.01) EPS.
Separately, Craig Hallum began coverage on Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 target price for the company.
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Bit Digital Stock Performance
NASDAQ:BTBT traded down $0.05 during mid-day trading on Monday, reaching $2.50. The stock had a trading volume of 17,044,929 shares, compared to its average volume of 14,187,538. Bit Digital has a twelve month low of $1.69 and a twelve month high of $5.74. The business has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $3.00. The firm has a market capitalization of $509.38 million, a price-to-earnings ratio of 41.67 and a beta of 5.25.
Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The business had revenue of $25.11 million during the quarter, compared to the consensus estimate of $26.38 million. As a group, sell-side analysts expect that Bit Digital will post -0.2 earnings per share for the current year.
Institutional Investors Weigh In On Bit Digital
A number of hedge funds and other institutional investors have recently modified their holdings of BTBT. Ballentine Partners LLC acquired a new stake in shares of Bit Digital in the 4th quarter worth approximately $40,000. SG Americas Securities LLC boosted its position in 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 purchasing an additional 177,911 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Bit Digital by 2.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company's stock valued at $2,741,000 after purchasing an additional 25,592 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Bit Digital in the fourth quarter valued at $74,000. Finally, Gladstone Institutional Advisory LLC acquired a new position in shares of Bit Digital during the 4th quarter worth $59,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.
Bit Digital Company Profile
(
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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.
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