The price of Bit Digital Inc. (NASDAQ:BTBT) shares last traded on Wall Street fell -12.94% to $2.69.
Based on available information, 3 analysts follow Bit Digital Inc. (NASDAQ:BTBT). 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 $3.09, this indicates a potential upside of 45.63 percent. BTBT stock price is now -29.79% away from the 50-day moving average and 33.25% away from the 200-day moving average. The market capitalization of the company currently stands at $222.03M.
Among analysts, 0 rate the stock a hold while 3 rate it a buy. 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 0.66% 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 GEODE CAPITAL MANAGEMENT, LLC during the first quarter worth $2,886,000. MILLENNIUM MANAGEMENT LLC invested $1,404,000 in shares of BTBT during the first quarter. In the first quarter, NORTHERN TRUST CORP acquired a new stake in Bit Digital Inc. valued at approximately $1,305,000. VANGUARD GROUP INC acquired a new stake in BTBT for approximately $1,295,000. NUVEEN ASSET MANAGEMENT, LLC purchased a new stake in BTBT valued at around $648,000 in the second quarter. In total, there are 74 active investors with 8.30% ownership of the company’s stock.
A candlestick chart of Bit Digital Inc. (NASDAQ: BTBT) showed a price of $3.0600 on Thursday morning. 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 $3.8256 and a two-hundred day moving average price translates $2.0269 for the stock.
The latest earnings results from Bit Digital Inc. (NASDAQ: BTBT) was released for Jun, 2023. According to the Capital Markets Company, earnings per share came in at -$0.03, beating analysts’ expectations of -$0.09 by 0.06. This compares to -$0.22 EPS in the same period last year. The company reported revenue of $9.04 million for the quarter, compared to $6.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.62 percent. For the current quarter, analysts expect BTBT to generate $13.4M 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.
