Bit Digital’s (BTBT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Bit Digital (NASDAQ:BTBT) in a report published on Monday morning,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright also issued estimates for Bit Digital’s Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.14) EPS.

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

Bit Digital Stock Performance

NASDAQ BTBT opened at $2.42 on Monday. Bit Digital has a one year low of $1.76 and a one year high of $5.74. The stock has a 50-day moving average of $2.94 and a 200 day moving average of $3.43. The company has a market capitalization of $371.49 million, a price-to-earnings ratio of 40.33 and a beta of 5.13.

Bit Digital (NASDAQ:BTBT) last announced its quarterly 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 company had revenue of $26.10 million for the quarter, compared to analysts’ expectations of $25.06 million. During the same period in the previous year, the business earned ($0.16) EPS. On average, equities analysts predict that Bit Digital will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bit Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. OLD Mission Capital LLC bought a new position in Bit Digital in the fourth quarter worth approximately $31,000. Stifel Financial Corp purchased a new stake in shares of Bit Digital in the 3rd quarter worth $38,000. Cibc World Markets Corp bought a new position in Bit Digital in the 4th quarter worth $33,000. Wedbush Securities Inc. bought a new position in Bit Digital in the 4th quarter worth $37,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Bit Digital during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

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.