Bit Digital (NASDAQ:BTBT) Lowered to Strong Sell Rating by Zacks Research

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

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

Bit Digital Price Performance

Shares of BTBT traded up $0.05 during midday trading on Monday, hitting $1.36. The company’s stock had a trading volume of 3,975,653 shares, compared to its average volume of 24,750,387. Bit Digital has a one year low of $1.25 and a one year high of $4.55. The company’s fifty day simple moving average is $1.66 and its two-hundred day simple moving average is $2.36. The company has a quick ratio of 17.53, a current ratio of 6.39 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $442.51 million, a price-to-earnings ratio of -2.46 and a beta of 4.02.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results 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 net margin of 70.70% and a negative return on equity of 5.39%. The business had revenue of $32.34 million during the quarter, compared to the consensus estimate of $31.87 million. As a group, equities analysts expect that Bit Digital will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bit Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Bit Digital by 40.3% during the 4th quarter. State Street Corp now owns 11,518,002 shares of the company’s stock worth $21,769,000 after acquiring an additional 3,307,076 shares during the last quarter. Invesco Ltd. grew its position in Bit Digital by 18.0% during the 4th quarter. Invesco Ltd. now owns 10,492,680 shares of the company’s stock worth $19,831,000 after acquiring an additional 1,604,011 shares during the last quarter. Geode Capital Management LLC grew its position in Bit Digital by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 9,347,321 shares of the company’s stock worth $17,669,000 after acquiring an additional 403,097 shares during the last quarter. Vanguard Group Inc. grew its position in Bit Digital by 549.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,330,673 shares of the company’s stock worth $21,992,000 after acquiring an additional 6,201,477 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Bit Digital by 21.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,123,173 shares of the company’s stock worth $13,463,000 after acquiring an additional 1,260,686 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.

Key Stories Impacting Bit Digital

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

• Positive Sentiment: Company reports a large ETH treasury — Bit Digital disclosed ~155,444.4 ETH (~$327M at March 31 close), giving the balance sheet material crypto-asset backing that can support valuation. PR Newswire
• Positive Sentiment: HC Wainwright reiterates a Buy rating and a $7 price target despite lowering EPS forecasts — this signals a meaningful upside scenario if execution or ETH/WYFI valuations improve. MarketBeat – HC Wainwright note
• Positive Sentiment: Company highlights strategic pivot (Ethereum + AI infrastructure) and large WYFI stake (~$322M reported), which investors may view as optionality beyond pure mining/staking exposure. MSN article
• Neutral Sentiment: Company reduced ETH staking allocation in March to boost treasury liquidity — increases flexibility but reduces staking yield exposure; impact depends on ETH price and capital uses. Proactive Investors
• Neutral Sentiment: Analyst estimates updated and mixed — Northland and HC Wainwright issued new quarterly/FY2026 EPS estimates (Northland sees FY2026 ~($0.09); HC Wainwright trimmed FY outlook but keeps Buy); these updates create differing upside/downside scenarios. MarketBeat – Analyst notes
• Negative Sentiment: Zacks downgraded BTBT from “Hold” to “Strong Sell” this morning — downgrades can accelerate selling pressure and reduce short-term demand. Zacks
• Negative Sentiment: Recent financials and guidance remain challenging — the company reported an EPS miss for the most recent quarter and continues to show negative margins and a negative FY consensus EPS, which keeps fundamental risk elevated. Zacks – 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.