Should I buy or sell Bit Digital stock right now?

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Bit Digital in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" BTBT shares. View BTBT analyst ratings or view top-rated stocks .

What is Bit Digital's stock price target for 2024?

2 Wall Street research analysts have issued 1 year price objectives for Bit Digital's stock. Their BTBT share price targets range from $5.00 to $6.00. On average, they expect the company's share price to reach $5.50 in the next twelve months. This suggests a possible upside of 203.9% from the stock's current price. View analysts price targets for BTBT or view top-rated stocks among Wall Street analysts .

How have BTBT shares performed in 2024?

Bit Digital's stock was trading at $4.23 at the beginning of 2024. Since then, BTBT shares have decreased by 57.2% and is now trading at $1.81. View the best growth stocks for 2024 here .

Are investors shorting Bit Digital?

Bit Digital saw a increase in short interest in March. As of March 31st, there was short interest totaling 18,130,000 shares, an increase of 14.0% from the March 15th total of 15,910,000 shares. Based on an average daily volume of 8,110,000 shares, the days-to-cover ratio is currently 2.2 days. View Bit Digital's Short Interest .

When is Bit Digital's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, June 10th 2024. View our BTBT earnings forecast .

How were Bit Digital's earnings last quarter?

Bit Digital, Inc. (NASDAQ:BTBT) released its quarterly earnings results on Monday, March, 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04. The business earned $16.05 million during the quarter, compared to the consensus estimate of $12.06 million. Bit Digital had a negative net margin of 30.93% and a negative trailing twelve-month return on equity of 6.20%.

What ETFs hold Bit Digital's stock?

ETFs with the largest weight of Bit Digital (NASDAQ:BTBT) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI) , VanEck Digital Transformation ETF (DAPP) , VanEck Digital Assets Mining ETF (DAM) , Grayscale Future of Finance ETF (GFOF) , Invesco Alerian Galaxy Crypto Economy ETF (SATO) , Fidelity Crypto Industry and Digital Payments ETF (FDIG) , Global X Blockchain ETF (BKCH) and iShares Blockchain and Tech ETF (IBLC) .

Who are Bit Digital's major shareholders?

Bit Digital's stock is owned by many different retail and institutional investors. Top institutional shareholders include IMC Chicago LLC (0.00%).

How do I buy shares of Bit Digital?

Shares of BTBT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:BTBT

Bit Digital (BTBT) Stock Price, News & Analysis

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$1.81

-0.01 (-0.55%)

(As of 04/17/2024 ET)

Compare

Today's Range: $1.76
▼
$1.91
50-Day Range: $1.81
▼
$3.37
52-Week Range: $1.61
▼
$5.27

Volume: 4.45 million shs
Average Volume: 8.11 million shs
Market Capitalization: $149.29 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $5.50

Get Bit Digital alerts:

Bit Digital MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 203.9% Upside
$5.50 Price Target
Short Interest: Bearish
21.98% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.23
Based on 2 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 250.00%
From $0.02 to $0.07 Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.81 out of 5 stars

Business Services Sector

150th out of 305 stocks

Nondepository Credit Institutions Industry

18th out of 40 stocks

3.5

Analyst's Opinion

Consensus Rating
Bit Digital has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
Bit Digital has only been the subject of 2 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
21.98% of the outstanding shares of Bit Digital have been sold short.
Short Interest Ratio / Days to Cover
Bit Digital has a short interest ratio ("days to cover") of 2.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Bit Digital has recently increased by 13.95%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Bit Digital does not currently pay a dividend.
Dividend Growth
Bit Digital does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for BTBT.

1.8

News and Social Media Coverage

News Sentiment
Bit Digital has a news sentiment score of 0.23. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.44 average news sentiment score of Business Services companies.
News Coverage This Week
MarketBeat has tracked 2 news articles for Bit Digital this week, compared to 2 articles on an average week.
Search Interest
52 people have searched for BTBT on MarketBeat in the last 30 days. This is an increase of 174% compared to the previous 30 days.
MarketBeat Follows
Only 12 people have added Bit Digital to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Bit Digital insiders have not sold or bought any company stock.
Percentage Held by Insiders
41.30% of the stock of Bit Digital is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
47.70% of the stock of Bit Digital is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Bit Digital are expected to grow by 250.00% in the coming year, from $0.02 to $0.07 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Bit Digital is -11.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Bit Digital is -11.31, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Bit Digital has a P/B Ratio of 1.04. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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About Bit Digital Stock (NASDAQ:BTBT)

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. 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.

BTBT Stock Price History

30 days | 90 days | 365 days | Advanced Chart

BTBT Stock News Headlines

March 18, 2024 | marketbeat.com

Here's Why Bitcoin Miners Stopped Rising With Bitcoin Prices

Prior to the approval of the spot bitcoin ETFs like iShares Bitcoin Trust NASDAQ: IBIT, traders would trade the Bitcoin miners and the cryptocurrency exchanges like Coinbase Global Inc. NASDAQ: COIN to benefit from the rise in Bitcoin prices. When the price of Bitcoin spiked, so did the stocks of Bitcoin miners in the business services sector.

March 18, 2024 | marketbeat.com

Here’s Why Bitcoin Miners Stopped Rising With Bitcoin Prices (BTBT)

The upcoming halving event in Bitcoin is reversing the normal positive correlation between bitcoin mining stocks and the spot price of bitcoin

April 17, 2024 | The Bull Report (Ad)

Healthcare Takes A Big Step Forward With The Help Of AI

The average doctor can diagnose an illness correctly 50-90% of the time. But one innovative company's medical AI gets it right 92%+.

April 17, 2024 | finance.yahoo.com

Bit Digital, Inc. (BTBT) Stock Moves -0.55%: What You Should Know

April 7, 2024 | investorplace.com

The 7 Best Penny Stocks to Buy in April 2024

April 4, 2024 | markets.businessinsider.com

Analysts Are Bullish on These Financial Stocks: Bit Digital (BTBT), Galaxy Digital Holdings (BRPHF)

April 3, 2024 | finance.yahoo.com

Bit Digital, Inc. Announces Monthly Production Update for March 2024

April 3, 2024 | msn.com

3 Crypto Stocks to Buy Before They Erupt After the Halving

April 17, 2024 | The Bull Report (Ad)

Healthcare Takes A Big Step Forward With The Help Of AI

The average doctor can diagnose an illness correctly 50-90% of the time. But one innovative company's medical AI gets it right 92%+.

March 28, 2024 | msn.com

Bit Digital, Bitcoin Mining Stock, Sees Uptick: What’s Behind the Movement?

March 27, 2024 | msn.com

Bitcoin Mining Stock Bit Digital Is Moving Higher: What's Going On?

March 26, 2024 | prnewswire.com

Bit Digital, Inc. Announces Customer Proposal to Expand Existing Agreement by an Additional 2,048 GPUs

March 23, 2024 | finance.yahoo.com

Analysts Just Made A Sizeable Upgrade To Their Bit Digital, Inc. (NASDAQ:BTBT) Forecasts

March 22, 2024 | fool.com

Why Shares of Bit Digital Stock Were Rising This Week

March 21, 2024 | seekingalpha.com

Bit Digital, Inc. (BTBT) Q4 2023 Earnings Call Transcript

March 20, 2024 | markets.businessinsider.com

Buy Rating Affirmed for Bit Digital on Strong Performance and Strategic Expansion

March 20, 2024 | finance.yahoo.com

Bit Digital, Inc. (NASDAQ:BTBT) Q4 2023 Earnings Call Transcript

March 18, 2024 | benzinga.com

Bit Digital: Q4 Earnings Insights

March 18, 2024 | investorplace.com

BTBT Stock Earnings: Bit Digital Beats EPS, Beats Revenue for Q4 2023

March 18, 2024 | prnewswire.com

Bit Digital, Inc. Announces Fiscal Year 2023 Financial Results

March 17, 2024 | msn.com

Bit Digital FY 2023 Earnings Preview

March 16, 2024 | finance.yahoo.com

BTBT Mar 2024 4.000 put

March 16, 2024 | finance.yahoo.com

BTBT Mar 2024 4.000 call

March 15, 2024 | theglobeandmail.com

Stocks Settle Lower as Bond Yields Climb on Inflation Concerns

March 15, 2024 | finance.yahoo.com

BTBT Mar 2024 6.000 put

March 15, 2024 | benzinga.com

Bit Digital's Earnings Outlook

March 13, 2024 | ca.finance.yahoo.com

BTBT Aug 2024 2.500 call

See More Headlines

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Company Calendar

Last Earnings: 3/18/2024
Today: 4/17/2024
Next Earnings (Estimated): 6/10/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Business Services
Industry: Nondepository credit institutions
Sub-Industry: N/A
Current Symbol: NASDAQ:BTBT
CUSIP: N/A
CIK: 1710350
Web: www.dianniu98.com
Phone: (212) 463-5121
Fax: N/A
Employees: 24
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $5.50
High Stock Price Target: $6.00
Low Stock Price Target: $5.00
Potential Upside/Downside: +208.1%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.16)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 89.25
P/E Growth: N/A
Net Income: $-13,890,000.00
Net Margins: -30.93%
Pretax Margin: -30.31%
Return on Equity: -6.20%
Return on Assets: -5.04%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 3.08
Quick Ratio: 3.08

Sales & Book Value

Annual Sales: $44.92 million
Price / Sales: 3.28
Cash Flow: $0.01 per share
Price / Cash Flow: 290.39
Book Value: $1.74 per share
Price / Book: 1.03

Miscellaneous

Outstanding Shares: 82,480,000
Free Float: 48,418,000
Market Cap: $147.23 million
Optionable: Optionable
Beta: 4.76

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Key Executives

Mr. Samir Tabar (Age 50)
Chief Executive Officer
Comp: $500k
Mr. Erke Huang (Age 35)
CFO & Director
Comp: $699.46k
Mr. William Cameron Schnier C.F.A.
Head of Investor Relations

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

BTBT Stock Analysis - Frequently Asked Questions

Should I buy or sell Bit Digital stock right now?: 2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Bit Digital in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" BTBT shares.
View BTBT analyst ratings or view top-rated stocks.
What is Bit Digital's stock price target for 2024?: 2 Wall Street research analysts have issued 1 year price objectives for Bit Digital's stock. Their BTBT share price targets range from $5.00 to $6.00. On average, they expect the company's share price to reach $5.50 in the next twelve months. This suggests a possible upside of 203.9% from the stock's current price.
View analysts price targets for BTBT or view top-rated stocks among Wall Street analysts.
How have BTBT shares performed in 2024?: Bit Digital's stock was trading at $4.23 at the beginning of 2024. Since then, BTBT shares have decreased by 57.2% and is now trading at $1.81.
View the best growth stocks for 2024 here.
Are investors shorting Bit Digital?: Bit Digital saw a increase in short interest in March. As of March 31st, there was short interest totaling 18,130,000 shares, an increase of 14.0% from the March 15th total of 15,910,000 shares. Based on an average daily volume of 8,110,000 shares, the days-to-cover ratio is currently 2.2 days.
View Bit Digital's Short Interest.
When is Bit Digital's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, June 10th 2024.
View our BTBT earnings forecast.

How were Bit Digital's earnings last quarter?: Bit Digital, Inc. (NASDAQ:BTBT) released its quarterly earnings results on Monday, March, 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.04. The business earned $16.05 million during the quarter, compared to the consensus estimate of $12.06 million. Bit Digital had a negative net margin of 30.93% and a negative trailing twelve-month return on equity of 6.20%.
What ETFs hold Bit Digital's stock?: ETFs with the largest weight of Bit Digital (NASDAQ:BTBT) stock in their portfolio include Valkyrie Bitcoin Miners ETF (WGMI), VanEck Digital Transformation ETF (DAPP), VanEck Digital Assets Mining ETF (DAM), Grayscale Future of Finance ETF (GFOF), Invesco Alerian Galaxy Crypto Economy ETF (SATO), Fidelity Crypto Industry and Digital Payments ETF (FDIG), Global X Blockchain ETF (BKCH) and iShares Blockchain and Tech ETF (IBLC).
Who are Bit Digital's major shareholders?: Bit Digital's stock is owned by many different retail and institutional investors. Top institutional shareholders include IMC Chicago LLC (0.00%).
How do I buy shares of Bit Digital?: Shares of BTBT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:BTBT) was last updated on 4/17/2024 by MarketBeat.com Staff

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