Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report)'s stock price dropped 4.3% on Thursday . The stock traded as low as $2.55 and last traded at $2.56. Approximately 2,334,984 shares changed hands during trading, a decline of 84% from the average daily volume of 14,396,021 shares. The stock had previously closed at $2.67.
Analyst Ratings Changes
Separately, HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Bit Digital in a research note on Monday, May 19th.
Check Out Our Latest Research Report on Bit Digital
Bit Digital Price Performance
The stock has a market capitalization of $550.62 million, a P/E ratio of 44.17 and a beta of 5.36. The business's 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.86.
Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The company had revenue of $25.11 million during the quarter, compared to analyst estimates of $26.38 million. Research analysts anticipate that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.
Institutional Trading of Bit Digital
A number of institutional investors have recently modified their holdings of the company. OLD Mission Capital LLC acquired a new stake in Bit Digital during the 4th quarter valued at $31,000. Cibc World Markets Corp acquired a new stake in Bit Digital in the fourth quarter valued at about $33,000. Cerity Partners LLC bought a new position in Bit Digital in the 1st quarter valued at approximately $25,000. Wedbush Securities Inc. bought a new position in Bit Digital in the 4th quarter valued at approximately $37,000. Finally, Orion Portfolio Solutions LLC acquired a new position in Bit Digital in the 4th quarter worth about $38,000. 47.70% of the stock is currently owned by institutional investors.
About Bit Digital
(
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.
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