B. Riley started coverage on shares of Bit Digital (NASDAQ:BTBT - Free Report) in a report issued on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $6.00 target price on the stock.
Separately, HC Wainwright lifted their target price on Bit Digital from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th.
Check Out Our Latest Analysis on BTBT
Bit Digital Price Performance
NASDAQ BTBT traded up $0.13 during trading on Thursday, reaching $4.00. 11,120,485 shares of the company's stock traded hands, compared to its average volume of 9,060,276. The company's 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $2.97. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.27. The firm has a market cap of $329.93 million, a price-to-earnings ratio of 13.33 and a beta of 4.79.
Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%. The business had revenue of $28.95 million for the quarter, compared to analysts' expectations of $26.63 million. Research analysts expect that Bit Digital will post -0.02 earnings per share for the current fiscal year.
Institutional Trading of Bit Digital
Institutional investors have recently made changes to their positions in the business. Bleakley Financial Group LLC purchased a new stake in Bit Digital in the first quarter valued at about $33,000. Creative Planning acquired a new position in shares of Bit Digital during the third quarter valued at about $37,000. Thoroughbred Financial Services LLC purchased a new position in shares of Bit Digital in the 2nd quarter valued at approximately $38,000. Victory Capital Management Inc. boosted its stake in Bit Digital by 39.3% in the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company's stock worth $49,000 after purchasing an additional 4,380 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Bit Digital during the second quarter valued at $51,000. Institutional investors and hedge funds own 47.70% of the company's stock.
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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