Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) saw an uptick in trading volume on Thursday . 64,829,575 shares were traded during trading, an increase of 171% from the previous session's volume of 23,912,184 shares.The stock last traded at $3.15 and had previously closed at $3.44.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research note on Thursday, June 26th.
Read Our Latest Research Report on Bit Digital
Bit Digital Trading Down 14.2%
The stock's fifty day moving average is $2.87 and its two-hundred day moving average is $2.59. The firm has a market cap of $943.90 million, a P/E ratio of -6.28 and a beta of 4.90.
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, meeting the consensus estimate of ($0.05). The firm had revenue of $25.11 million for the quarter, compared to analysts' expectations of $26.38 million. Bit Digital had a negative net margin of 77.27% and a negative return on equity of 10.83%. On average, analysts forecast that Bit Digital, Inc. will post -0.2 EPS for the current year.
Insider Buying and Selling at Bit Digital
In related news, Director Brock Jeffrey Pierce acquired 500,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the director owned 500,000 shares in the company, valued at approximately $1,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Samir Tabar bought 750,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. Following the completion of the purchase, the chief executive officer owned 2,108,089 shares of the company's stock, valued at $4,216,178. This trade represents a 55.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.32% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Cerity Partners LLC purchased a new position in shares of Bit Digital in the first quarter worth $25,000. OLD Mission Capital LLC purchased a new position in Bit Digital in the 4th quarter worth about $31,000. Advance Capital Management Inc. bought a new position in Bit Digital during the 1st quarter valued at about $31,000. Caitong International Asset Management Co. Ltd lifted its stake in Bit Digital by 2,892.1% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 15,200 shares of the company's stock valued at $31,000 after acquiring an additional 14,692 shares during the period. Finally, Plancorp LLC boosted its holdings in shares of Bit Digital by 34.8% during the 2nd quarter. Plancorp LLC now owns 15,500 shares of the company's stock valued at $34,000 after acquiring an additional 4,000 shares during the last quarter. 47.70% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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