Bit Digital’s (BTBT) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Bit Digital (NASDAQ:BTBTFree Report) in a report issued on Monday,Benzinga reports. The firm currently has a $7.00 price target on the stock.

Separately, Craig Hallum assumed coverage on shares of Bit Digital in a research note on Tuesday, January 21st. They issued a “buy” rating and a $6.00 target price on the stock.

Read Our Latest Research Report on Bit Digital

Bit Digital Stock Down 1.2 %

Shares of BTBT opened at $2.41 on Monday. The company’s fifty day moving average is $2.99 and its 200-day moving average is $3.45. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74. The firm has a market cap of $369.96 million, a price-to-earnings ratio of 40.17 and a beta of 5.13.

Bit Digital (NASDAQ:BTBTGet Free Report) last posted its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The firm had revenue of $26.10 million during the quarter, compared to analyst estimates of $25.06 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. As a group, research analysts predict that Bit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Bit Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. OLD Mission Capital LLC acquired a new stake in Bit Digital in the 4th quarter worth $31,000. Stifel Financial Corp acquired a new stake in Bit Digital in the 3rd quarter worth $38,000. Cibc World Markets Corp acquired a new stake in Bit Digital in the 4th quarter worth $33,000. Wedbush Securities Inc. acquired a new stake in Bit Digital in the 4th quarter worth $37,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Bit Digital in the 4th quarter worth $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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