Bit Digital (NASDAQ:BTBT) Announces Earnings Results, Misses Estimates By $0.07 EPS

Bit Digital (NASDAQ:BTBT) issued its earnings results on Friday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), Zacks reports. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%.

Bit Digital Stock Performance

NASDAQ:BTBT opened at $2.51 on Friday. The firm has a market capitalization of $385.46 million, a price-to-earnings ratio of 41.85 and a beta of 5.13. The stock has a fifty day moving average of $3.06 and a 200 day moving average of $3.47. Bit Digital has a 52-week low of $1.76 and a 52-week high of $5.74.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BTBT shares. Craig Hallum initiated coverage on Bit Digital in a research note on Tuesday, January 21st. They set a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th.

About Bit Digital

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.