Bit Digital (BTBT) Stock Price, News & Analysis

Company Overview

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. The company was formerly known as Golden Bull Limited and changed its name to Bit Digital, Inc. in September 2020. Bit Digital, Inc. was founded in 2015 and is headquartered in New York, New York.

Key Stats

• Today's Range: $3.23 to $3.42
• 50-Day Range: $3.18 to $5.52
• 52-Week Range: $1.76 to $5.74
• Volume: 8.11 million shs
• Average Volume: 11.04 million shs
• Market Capitalization: $511.18 million
• P/E Ratio: 55.50
• Dividend Yield: N/A
• Price Target: $6.33
• Consensus Rating: Buy

Bit Digital Stock Analysis - MarketRank™

Bit Digital scored higher than 64% of companies evaluated by MarketBeat, and ranked 134th out of 330 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.7 / 5
• Analyst Rating: Buy

Consensus Rating

Bit Digital has received a consensus rating of Buy. The company's average rating score is 3.33, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Bit Digital has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Bit Digital are expected to grow in the coming year, from ($0.20) to $0.03 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Bit Digital is 55.50, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.17.

Price to Earnings Ratio vs. Sector

The P/E ratio of Bit Digital is 55.50, which means that it is trading at a more expensive P/E ratio than the Business Services sector average P/E ratio of about 28.36.

Price to Book Value per Share Ratio

Bit Digital has a P/B Ratio of 1.91. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

18.57% of the outstanding shares of Bit Digital have been sold short.

Short Interest Ratio / Days to Cover

Bit Digital has a short interest ratio ("days to cover") of 1.9, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Bit Digital has recently increased by 7.83%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Bit Digital does not currently pay a dividend.

Dividend Growth

Bit Digital does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

18.57% of the outstanding shares of Bit Digital have been sold short.

Short Interest Ratio / Days to Cover

Bit Digital has a short interest ratio ("days to cover") of 1.9, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Bit Digital has recently increased by 7.83%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.5 / 5
• News Sentiment: 0.58

News Sentiment

Bit Digital has a news sentiment score of 0.58. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Business Services companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for Bit Digital this week, compared to 4 articles on an average week.

Search Interest

Only 35 people have searched for BTBT on MarketBeat in the last 30 days. This is a decrease of -22% compared to the previous 30 days.

MarketBeat Follows

23 people have added Bit Digital to their MarketBeat watchlist in the last 30 days. This is an increase of 44% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Bit Digital insiders have not sold or bought any company stock.

Percentage Held by Insiders

41.30% of the stock of Bit Digital is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

47.70% of the stock of Bit Digital is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

BTBT Stock Analysis - Frequently Asked Questions

How have BTBT shares performed this year?

Bit Digital's stock was trading at $4.23 on January 1st, 2024. Since then, BTBT shares have decreased by 21.3% and is now trading at $3.33.
View the best growth stocks for 2024 here.

How were Bit Digital's earnings last quarter?

Bit Digital, Inc. (NASDAQ:BTBT) posted its earnings results on Tuesday, August, 15th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.11. The company had revenue of $9.04 million for the quarter, compared to analysts' expectations of $9.58 million. Bit Digital had a negative trailing twelve-month return on equity of 5.69% and a negative net margin of 2.75%.

Who are Bit Digital's major shareholders?

Bit Digital's top institutional shareholders include State Street Corp (6.79%), Van ECK Associates Corp (5.41%), Geode Capital Management LLC (2.94%) and Exchange Traded Concepts LLC (1.10%).

How do I buy shares of Bit Digital?

Shares of BTBT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Bit Digital own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Bit Digital investors own include NVIDIA (NVDA), Meta Platforms (META), Tesla (TSLA), Advanced Micro Devices (AMD), Riot Platforms (RIOT) and MARA (MARA).

Company Calendar

• Last Earnings: 8/15/2023
• Today: 12/25/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Business Services
• Industry: Nondepository credit institutions
• Sub-Industry: Banking
• Current Symbol: NASDAQ:BTBT
• CUSIP: N/A
• CIK: 1710350
• Web: www.dianniu98.com
• Phone: (212) 463-5121
• Fax: N/A
• Employees: 10
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $6.33
• High Stock Price Target: $7.00
• Low Stock Price Target: $6.00
• Potential Upside/Downside: +90.2%
• Consensus Rating: Buy
• Rating Score (0-4): 3.33
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.06
• Trailing P/E Ratio: 55.50
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-13,890,000.00
• Net Margins: -2.75%
• Pretax Margin: 0.07%
• Return on Equity: -5.69%
• Return on Assets: -4.82%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 5.27
• Quick Ratio: 5.27

Sales & Book Value

• Annual Sales: $98.00 million
• Price / Sales: 5.22
• Cash Flow: $0.00 per share
• Price / Cash Flow: 690.44
• Book Value: $1.74 per share
• Price / Book: 1.91

Miscellaneous

• Outstanding Shares: 153,509,000
• Free Float: N/A
• Market Cap: $511.18 million
• Optionable: Optionable
• Beta: 4.80