The stock of Bit Digital Inc. (NASDAQ:BTBT) last traded at $4.01, down -1.47% from the previous session.
Data from the available sources indicates that Bit Digital Inc. (NASDAQ:BTBT) is covered by 3 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $5.20 and a low of $4.00, we find $4.50. Given the previous closing price of $4.07, this indicates a potential upside of 10.57 percent. BTBT stock price is now 23.41% away from the 50-day moving average and 133.30% away from the 200-day moving average. The market capitalization of the company currently stands at $355.13M.
In total, 0 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $4.57 as their price target over the next twelve months.
With the price target of $14, H.C. Wainwright recently initiated with Buy rating for Bit Digital Inc. (NASDAQ: BTBT).
A total of 0.78% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BTBT stock. A new stake in Bit Digital Inc. shares was purchased by JANE STREET GROUP, LLC during the first quarter worth $549,000. CREATIVE PLANNING invested $366,000 in shares of BTBT during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Bit Digital Inc. valued at approximately $124,000. JUMP FINANCIAL, LLC acquired a new stake in BTBT for approximately $44,000. COVINGTON CAPITAL MANAGEMENT purchased a new stake in BTBT valued at around $10,000 in the second quarter. In total, there are 62 active investors with 8.30% ownership of the company’s stock.
With an opening price of $3.9800 on Tuesday morning, Bit Digital Inc. (NASDAQ: BTBT) set off the trading day. During the past 12 months, Bit Digital Inc. has had a low of $0.53 and a high of $4.80. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 27.90, and a quick ratio of 27.90. The fifty day moving average price for BTBT is $3.2846 and a two-hundred day moving average price translates $1.7326 for the stock.
The latest earnings results from Bit Digital Inc. (NASDAQ: BTBT) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at -$0.03, beating analysts’ expectations of -$0.13 by 0.1. This compares to -$0.06 EPS in the same period last year. The company reported revenue of $8.27 million for the quarter, compared to $8.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.6 percent. For the current quarter, analysts expect BTBT to generate $10.48M in revenue.
Bit Digital Inc.(BTBT) Company Profile
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. 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.
