Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report)'s share price traded down 1.7% during mid-day trading on Monday . The company traded as low as $2.03 and last traded at $2.06. 3,699,384 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 13,475,396 shares. The stock had previously closed at $2.09.
Analyst Ratings Changes
A number of research firms recently issued reports on BTBT. Craig Hallum assumed coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a "buy" rating and a $6.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Bit Digital in a report on Monday, April 21st.
Get Our Latest Stock Report on BTBT
Bit Digital Trading Down 4.4 %
The company has a market cap of $354.55 million, a price-to-earnings ratio of 32.33 and a beta of 6.05. The stock's 50-day moving average is $2.15 and its 200-day moving average is $3.19.
Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $26.10 million during the quarter, compared to the consensus estimate of $25.06 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. As a group, analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.
Institutional Trading of Bit Digital
Several institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp bought a new position in shares of Bit Digital in the third quarter worth $38,000. Barclays PLC increased its position in shares of Bit Digital by 81.4% in the third quarter. Barclays PLC now owns 235,106 shares of the company's stock worth $826,000 after purchasing an additional 105,484 shares during the last quarter. Geode Capital Management LLC raised its stake in Bit Digital by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock valued at $8,512,000 after purchasing an additional 42,375 shares in the last quarter. Virtu Financial LLC purchased a new position in Bit Digital in the 3rd quarter worth approximately $425,000. Finally, Tidal Investments LLC increased its holdings in shares of Bit Digital by 22.0% in the 3rd quarter. Tidal Investments LLC now owns 45,800 shares of the company's stock worth $161,000 after buying an additional 8,250 shares during the last quarter. 47.70% of the stock is currently owned by hedge funds and other institutional investors.
About Bit Digital
(
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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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