Bit Digital (NASDAQ:BTBT - Get Free Report) released its earnings results on Friday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07), Zacks reports. The firm had revenue of $26.10 million for the quarter, compared to the consensus estimate of $25.06 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. During the same quarter last year, the company posted ($0.16) EPS.
Bit Digital Trading Down 6.2 %
Shares of NASDAQ BTBT traded down $0.15 during mid-day trading on Tuesday, hitting $2.26. The company had a trading volume of 10,801,478 shares, compared to its average volume of 12,759,445. The company has a market capitalization of $346.93 million, a PE ratio of 37.67 and a beta of 5.13. The firm has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $3.45. Bit Digital has a one year low of $1.76 and a one year high of $5.74.
Wall Street Analysts Forecast Growth
BTBT has been the subject of several analyst reports. Craig Hallum initiated 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 restated a "buy" rating and issued a $7.00 price objective on shares of Bit Digital in a report on Monday.
Check Out Our Latest Stock Analysis on BTBT
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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