Bit Digital, Inc. (NASDAQ:BTBT - Get Free Report)'s share price traded up 0.7% during trading on Wednesday . The company traded as high as $2.16 and last traded at $2.16. 3,444,737 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 12,887,819 shares. The stock had previously closed at $2.14.
Analyst Ratings Changes
A number of analysts recently issued reports on BTBT shares. HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Bit Digital in a research note on Monday, March 17th. Craig Hallum began coverage on Bit Digital in a research report on Tuesday, January 21st. They set a "buy" rating and a $6.00 price target on the stock.
View Our Latest Report on BTBT
Bit Digital Stock Up 2.3 %
The company has a market cap of $309.32 million, a PE ratio of 33.58 and a beta of 6.05. The stock has a 50-day moving average of $2.62 and a 200-day moving average of $3.38.
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 analysts' consensus estimates of ($0.04) by ($0.07). The business had revenue of $26.10 million during 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 in the prior year, the company earned ($0.16) earnings per share. Research analysts expect that Bit Digital, Inc. will post -0.2 EPS for the current year.
Institutional Investors Weigh In On Bit Digital
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. OLD Mission Capital LLC purchased a new stake in shares of Bit Digital during the 4th quarter valued at $31,000. Cibc World Markets Corp purchased a new stake in Bit Digital during the fourth quarter valued at about $33,000. Wedbush Securities Inc. purchased a new stake in Bit Digital during the fourth quarter valued at about $37,000. Stifel Financial Corp bought a new stake in Bit Digital during the third quarter worth about $38,000. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Bit Digital in the 4th quarter worth about $38,000. 47.70% of the stock is owned by hedge funds and other 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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