Shares of Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report) traded up 3% on Wednesday . The company traded as high as $1.98 and last traded at $1.91. 5,142,380 shares changed hands during trading, a decline of 60% from the average session volume of 13,011,536 shares. The stock had previously closed at $1.85.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research report on Monday, March 17th. Craig Hallum started coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a "buy" rating and a $6.00 target price on the stock.
Get Our Latest Research Report on BTBT
Bit Digital Trading Up 6.9 %
The company has a market cap of $283.99 million, a P/E ratio of 30.83 and a beta of 6.05. The firm has a 50-day moving average of $2.44 and a 200 day moving average of $3.32.
Bit Digital (NASDAQ:BTBT - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $26.10 million during the quarter, compared to the consensus estimate of $25.06 million. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. During the same quarter in the prior year, the firm earned ($0.16) EPS. On average, equities analysts predict that Bit Digital, Inc. will post -0.2 EPS for the current year.
Institutional Trading of Bit Digital
Several large investors have recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new stake in Bit Digital in the fourth quarter valued at approximately $31,000. Stifel Financial Corp acquired a new position in Bit Digital during the third quarter worth $38,000. Cibc World Markets Corp bought a new position in shares of Bit Digital in the fourth quarter valued at $33,000. Wedbush Securities Inc. acquired a new position in shares of Bit Digital during the fourth quarter valued at about $37,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Bit Digital in the 4th quarter worth about $38,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.
Bit Digital Company Profile
(
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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