Bit Digital (NASDAQ:BTBT) Issues Quarterly Earnings Results

Bit Digital (NASDAQ:BTBT) announced its quarterly earnings results on Friday. The company reported ($0.11) 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 Price Performance

Shares of BTBT stock traded up $0.22 on Friday, reaching $2.49. 3,441,498 shares of the company were exchanged, compared to its average volume of 12,684,469. The company has a market cap of $381.78 million, a price-to-earnings ratio of 41.82 and a beta of 5.13. The company has a 50-day moving average of $3.06 and a 200-day moving average of $3.47. Bit Digital has a one year low of $1.76 and a one year high of $5.74.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Craig Hallum started coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th.

Bit Digital Company Profile

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.