Bit Digital's (BTBT) "Buy" Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Bit Digital (NASDAQ:BTBT - Free Report) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock. HC Wainwright also issued estimates for Bit Digital's Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.14) EPS.

Separately, Craig Hallum assumed coverage on shares of Bit Digital in a report on Tuesday, January 21st. They set a "buy" rating and a $6.00 target price for the company.

Bit Digital Trading Down 2.9 %

NASDAQ:BTBT traded down $0.07 on Monday, hitting $2.33. The company's stock had a trading volume of 13,105,224 shares, compared to its average volume of 12,809,465. Bit Digital has a one year low of $1.76 and a one year high of $5.74. The firm has a market capitalization of $357.68 million, a P/E ratio of 38.83 and a beta of 5.13. The stock has a fifty day moving average of $2.92 and a two-hundred day moving average of $3.43.

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 for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The business had revenue of $26.10 million during the quarter, compared to the consensus estimate of $25.06 million. During the same quarter last year, the company posted ($0.16) EPS. As a group, sell-side analysts anticipate that Bit Digital will post -0.2 EPS for the current year.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $31,000. Cibc World Markets Corp bought a new position in Bit Digital during the fourth quarter worth about $33,000. Wedbush Securities Inc. acquired a new stake in Bit Digital in the 4th quarter worth about $37,000. Stifel Financial Corp bought a new stake in Bit Digital in the 3rd quarter valued at about $38,000. Finally, Orion Portfolio Solutions LLC bought a new stake in Bit Digital in the 4th quarter valued at about $38,000. 47.70% of the stock is owned by institutional investors and hedge funds.

About Bit Digital

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.