Bit Digital (NASDAQ:BTBT) Research Coverage Started at HC Wainwright

HC Wainwright assumed coverage on shares of Bit Digital (NASDAQ:BTBT) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $4.00 target price on the stock. HC Wainwright also issued estimates for Bit Digital’s Q3 2026 earnings at ($0.05) EPS, Q4 2026 earnings at ($0.05) EPS, Q1 2027 earnings at ($0.04) EPS, Q2 2027 earnings at ($0.04) EPS, Q3 2027 earnings at ($0.04) EPS, Q4 2027 earnings at ($0.04) EPS and FY2027 earnings at ($0.16) EPS.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Bit Digital from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. B. Riley Financial reiterated a “buy” rating on shares of Bit Digital in a research note on Monday, May 18th. Craig Hallum reiterated a “buy” rating and issued a $3.50 price target on shares of Bit Digital in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bit Digital in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.38.

Bit Digital Trading Down 6.0%

BTBT opened at $1.56 on Tuesday. Bit Digital has a 12 month low of $1.18 and a 12 month high of $4.55. The stock has a market capitalization of $562.58 million, a price-to-earnings ratio of -1.47 and a beta of 3.97. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.51 and a quick ratio of 1.51. The business has a fifty day moving average price of $1.51 and a 200 day moving average price of $1.65.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The company had revenue of $32.11 million during the quarter, compared to analyst estimates of $23.58 million. Bit Digital had a negative net margin of 237.19% and a negative return on equity of 10.66%. Sell-side analysts expect that Bit Digital will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTBT. American Century Companies Inc. lifted its holdings in shares of Bit Digital by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 183,463 shares of the company’s stock valued at $402,000 after purchasing an additional 4,374 shares during the last quarter. Legal & General Group Plc grew its stake in Bit Digital by 60.2% during the 2nd quarter. Legal & General Group Plc now owns 16,508 shares of the company’s stock worth $36,000 after buying an additional 6,206 shares during the last quarter. Mackenzie Financial Corp grew its stake in Bit Digital by 75.4% during the 4th quarter. Mackenzie Financial Corp now owns 20,073 shares of the company’s stock worth $39,000 after buying an additional 8,630 shares during the last quarter. BNP Paribas Financial Markets increased its position in Bit Digital by 99.0% during the second quarter. BNP Paribas Financial Markets now owns 19,992 shares of the company’s stock worth $44,000 after buying an additional 9,946 shares during the period. Finally, Swiss National Bank increased its position in Bit Digital by 1.7% during the fourth quarter. Swiss National Bank now owns 630,200 shares of the company’s stock worth $1,191,000 after buying an additional 10,500 shares during the period. 47.70% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bit Digital

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

• Positive Sentiment: HC Wainwright began coverage of Bit Digital with a “Buy” rating and a $4.00 price target, well above the stock’s recent trading level near $1.56. The firm expects quarterly losses to narrow to approximately $0.04 per share during 2027 and forecasts a 2027 loss of $0.16 per share, indicating an anticipated improvement in profitability. HC Wainwright Begins Coverage on Bit Digital
• Positive Sentiment: Bit Digital is reportedly seeking to generate additional income by lending some of its Ethereum holdings. Monetizing the company’s crypto assets could create a recurring yield stream and improve asset utilization, although returns will depend on lending demand, crypto prices and counterparty risk. Bit Digital Turns Its Ethereum Stash Into a Lending Machine
• Neutral Sentiment: Bit Digital appeared among Zacks’ trending stocks because of increased investor attention. The item provides visibility but does not identify a change in the company’s fundamentals or valuation. Bit Digital Is a Trending Stock
• Neutral Sentiment: The reported short-interest figures show zero shares sold short and a zero-day short-interest ratio, but the stated percentage change is “NaN,” making the data unreliable and offering no clear short-squeeze signal.
• Negative Sentiment: HC Wainwright still expects Bit Digital to report losses, including approximately $0.05 per share in the remaining 2026 quarters. The company also faces significant exposure to Ethereum prices and crypto-market volatility, which could offset the potential benefits of lending income.

About Bit Digital

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.