Shares of Bit Digital, Inc. (NASDAQ:BTBT – Get Free Report) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.38.
A number of equities research analysts recently weighed in on BTBT shares. HC Wainwright began coverage on Bit Digital in a research report on Tuesday, September 8th. They set a “buy” rating and a $4.00 price objective on the stock. Craig Hallum reiterated a “buy” rating and issued a $3.50 target price on shares of Bit Digital in a report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Bit Digital in a research report on Thursday, August 13th. UBS Group upgraded shares of Bit Digital to a “buy” rating in a report on Monday, September 28th. Finally, JonesTrading raised shares of Bit Digital to a “strong-buy” rating in a research report on Saturday, September 26th.
View Our Latest Stock Report on Bit Digital
Hedge Funds Weigh In On Bit Digital
Bit Digital Stock Performance
Shares of NASDAQ:BTBT opened at $1.63 on Friday. The firm has a 50 day moving average of $1.53 and a 200 day moving average of $1.64. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $587.83 million, a price-to-earnings ratio of -1.54 and a beta of 3.84. Bit Digital has a 52 week low of $1.18 and a 52 week high of $4.55.
Bit Digital (NASDAQ:BTBT – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The company had revenue of $32.11 million for the quarter, compared to the consensus estimate of $23.58 million. Bit Digital had a negative net margin of 237.19% and a negative return on equity of 10.66%. On average, sell-side analysts predict that Bit Digital will post -0.19 earnings per share for the current fiscal year.
Bit Digital Company Profile
Bit Digital, Inc is a digital asset infrastructure company that operates in cryptocurrency mining and blockchain technology services. The company’s primary activities include bitcoin mining and Ethereum staking, through which it seeks to earn digital assets by contributing computing power and validating transactions on applicable blockchain networks.
Bit Digital has emphasized the use of energy-efficient and environmentally responsible infrastructure for its mining operations. Its activities have included operations and hosting arrangements in North America and Iceland, supported by third-party data center and power providers.
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