Bit Digital (NASDAQ:BTBT) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bit Digital (NASDAQ:BTBT - Free Report) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $7.00 price target 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 assumed coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a "buy" rating and a $6.00 target price on the stock.

Bit Digital Price Performance

Shares of BTBT traded down $0.05 during midday trading on Monday, hitting $2.42. The stock had a trading volume of 24,258,332 shares, compared to its average volume of 14,068,473. The stock's 50 day moving average is $2.08 and its 200 day moving average is $3.01. The firm has a market cap of $493.08 million, a PE ratio of 40.33 and a beta of 5.25. Bit Digital has a 1 year low of $1.69 and a 1 year high of $5.74.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The company had revenue of $25.11 million for the quarter, compared to analyst estimates of $26.38 million. As a group, equities research analysts expect that Bit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Bit Digital by 427.6% in the 4th 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. Tower Research Capital LLC TRC lifted its holdings in Bit Digital by 90.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company's stock worth $46,000 after buying an additional 7,395 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Bit Digital during the 4th quarter valued at $378,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Bit Digital in the 4th quarter valued at $39,000. Finally, MetLife Investment Management LLC raised its holdings in Bit Digital by 18.1% in the fourth quarter. MetLife Investment Management LLC now owns 82,357 shares of the company's stock worth $241,000 after purchasing an additional 12,640 shares in the last quarter. Institutional investors own 47.70% of the company's stock.

Bit Digital Company Profile

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.