Bit Digital (NASDAQ:BTBT) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Bit Digital (NASDAQ:BTBT) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Several other research firms have also issued reports on BTBT. Weiss Ratings lowered shares of Bit Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 30th. B. Riley Financial dropped their price objective on shares of Bit Digital from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen lowered shares of Bit Digital from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.67.

Bit Digital Stock Performance

Shares of BTBT stock opened at $1.33 on Monday. Bit Digital has a one year low of $1.25 and a one year high of $4.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.53 and a current ratio of 6.39. The company has a 50 day moving average price of $1.64 and a 200 day moving average price of $2.36. The firm has a market capitalization of $434.35 million, a price-to-earnings ratio of -2.42 and a beta of 4.02.

Bit Digital (NASDAQ:BTBT) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Bit Digital had a negative return on equity of 5.39% and a negative net margin of 70.70%.The business had revenue of $32.34 million during the quarter, compared to analyst estimates of $31.87 million. Sell-side analysts anticipate that Bit Digital will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTBT. Vanguard Group Inc. boosted its stake in shares of Bit Digital by 549.2% in the third quarter. Vanguard Group Inc. now owns 7,330,673 shares of the company’s stock valued at $21,992,000 after purchasing an additional 6,201,477 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Bit Digital in the second quarter valued at $10,385,000. Valiant Capital Management L.P. purchased a new position in shares of Bit Digital in the second quarter valued at $8,760,000. Renaissance Technologies LLC purchased a new position in shares of Bit Digital in the fourth quarter valued at $6,476,000. Finally, State Street Corp boosted its stake in shares of Bit Digital by 40.3% in the fourth quarter. State Street Corp now owns 11,518,002 shares of the company’s stock valued at $21,769,000 after purchasing an additional 3,307,076 shares during the period. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

More Bit Digital News

Here are the key news stories impacting Bit Digital this week:

• Positive Sentiment: Company reported a sizable Ethereum treasury — ~155,444.4 ETH (~$327M at 3/31 close), which supports asset-backed valuation and liquidity. Bit Digital Inc. Reports Monthly Ethereum Treasury and Staking Metrics for March 2026
• Positive Sentiment: Management cut ETH staking allocation in March to increase treasury flexibility and liquidity; company also holds sizable WYFI equity (~$322M reported), signaling optionality in capital allocation. Bit Digital adjusts staking allocation to increase flexibility in March
• Positive Sentiment: Company is highlighting 2025 results and a strategic pivot toward Ethereum and AI infrastructure — narrative that supports a higher longer‑term valuation (cited in corporate presentations/media). Bit Digital highlights 2025 results and strategic pivot to Ethereum and AI infrastructure
• Neutral Sentiment: HC Wainwright maintains a Buy rating and $7 price target but has reduced FY2026 EPS estimates materially (now negative), reflecting mixed near‑term expectations despite bullish long‑term view. MarketBeat BTBT coverage
• Neutral Sentiment: Analysts at Northland and HC Wainwright issued new quarterly EPS forecasts (mostly small negative EPS estimates), updating models but not changing consensus dramatically; these are inputs rather than catalysts. MarketBeat BTBT coverage
• Neutral Sentiment: Third‑party comparisons and coverage pieces provide context but no company action (e.g., peer comparison with AirSculpt). Financial Comparison: Bit Digital and AirSculpt
• Negative Sentiment: Zacks Research downgraded BTBT from “hold” to “strong sell,” a headline risk that likely put downward pressure on the stock and investor sentiment. Zacks downgrade
• Negative Sentiment: Recent market coverage noted the stock previously fell (session close down ~3.7%), reflecting sensitivity to analyst commentary and short‑term crypto price swings. Bit Digital stock sinks

Bit Digital Company Profile

Bit Digital, Inc (NASDAQ: BTBT) is a publicly traded digital asset mining company that specializes in the proof-of-work mining of Bitcoin. Incorporated in Nevada and headquartered in New York City, Bit Digital develops, owns and manages a fleet of high-efficiency ASIC miners, with the primary aim of generating newly minted Bitcoin through computational work. The company’s revenue is derived solely from its mining operations and any resulting cryptocurrency holdings.

To support its mining activities, Bit Digital maintains multiple data center facilities across North America.