Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) traded down 3.6% on Tuesday . The company traded as low as $2.04 and last traded at $2.04. 1,875,294 shares were traded during trading, a decline of 86% from the average session volume of 13,456,311 shares. The stock had previously closed at $2.11.
Analyst Upgrades and Downgrades
BTBT has been the subject of a number of research reports. Craig Hallum began coverage on Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research note on Monday, April 21st.
Get Our Latest Report on BTBT
Bit Digital Price Performance
The stock has a market capitalization of $385.62 million, a P/E ratio of 35.17 and a beta of 6.05. The stock has a 50 day moving average price of $2.13 and a 200-day moving average price of $3.17.
Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its quarterly 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). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The company had revenue of $26.10 million for the quarter, compared to the consensus estimate of $25.06 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Research analysts predict that Bit Digital, Inc. will post -0.2 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bit Digital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD Mission Capital LLC purchased a new position in shares of Bit Digital in the fourth quarter valued at about $31,000. Cibc World Markets Corp purchased a new position in Bit Digital during the 4th quarter valued at about $33,000. Cerity Partners LLC purchased a new position in Bit Digital during the 1st quarter valued at about $25,000. Wedbush Securities Inc. bought a new position in Bit Digital during the 4th quarter valued at approximately $37,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Bit Digital in the 4th quarter worth approximately $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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