Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) shares were down 3.6% during mid-day trading on Tuesday . The company traded as low as $2.04 and last traded at $2.04. Approximately 1,875,294 shares changed hands during trading, a decline of 86% from the average daily volume of 13,456,311 shares. The stock had previously closed at $2.11.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on BTBT shares. Craig Hallum began coverage on Bit Digital in a research report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of Bit Digital in a research report on Monday, April 21st.
Read Our Latest Stock Report on Bit Digital
Bit Digital Price Performance
The company has a market capitalization of $382.88 million, a price-to-earnings ratio of 34.58 and a beta of 6.05. The firm has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $3.19.
Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The business had revenue of $26.10 million for the quarter, compared to analyst estimates of $25.06 million. During the same quarter last year, the company posted ($0.16) EPS. Research analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.
Institutional Trading of Bit Digital
Hedge funds have recently bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Bit Digital in the 1st quarter worth approximately $25,000. OLD Mission Capital LLC acquired a new stake in shares of Bit Digital during the 4th quarter valued at about $31,000. Advance Capital Management Inc. bought a new stake in Bit Digital in the first quarter valued at about $31,000. Cibc World Markets Corp acquired a new position in Bit Digital in the fourth quarter worth about $33,000. Finally, Byrne Asset Management LLC lifted its stake in Bit Digital by 207.7% during the first quarter. Byrne Asset Management LLC now owns 17,538 shares of the company's stock worth $35,000 after purchasing an additional 11,838 shares during the period. 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.
Further Reading
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