In the latest trading session, 2.53 million Bit Digital Inc (NASDAQ:BTBT) shares changed hands as the company’s beta touched 4.89. With the company’s most recent per share price at $1.96 changed hands at -$0.06 or -2.98% at last look, the market valuation stands at $356.66M. BTBT’s current price is a discount, trading about -192.86% off its 52-week high of $5.74. The share price had its 52-week low at $1.75, which suggests the last value was 10.71% up since then. When we look at Bit Digital Inc’s average trading volume, we note the 10-day average is 11.6 million shares, with the 3-month average coming to 15.98 million.
Analysts gave the Bit Digital Inc (BTBT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended BTBT as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Bit Digital Inc’s EPS for the current quarter is expected to be -0.07.
Bit Digital Inc (NASDAQ:BTBT) trade information
Instantly BTBT was in red as seen in intraday trades today. With action -3.22%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -33.28%, with the 5-day performance at -3.22% in the red. However, in the 30-day time frame, Bit Digital Inc (NASDAQ:BTBT) is -23.03% down. Looking at the short shares, we see there were 33.29 million shares sold at short interest cover period of 1.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is 6.5, meaning bulls need an upside of 69.85% from its recent market value. According to analyst projections, BTBT’s forecast low is 6 with 7 as the target high. To hit the forecast high, the stock’s price needs a -257.14% plunge from its current level, while the stock would need to soar -206.12% for it to hit the projected low.
Bit Digital Inc (BTBT) estimates and forecasts
Year-over-year growth is forecast to reach 36.52% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of 24.89M. 4 analysts are of the opinion that Bit Digital Inc’s revenue for the current quarter will be 32.46M. The company’s revenue for the corresponding quarters a year ago was 30.3M and 28.95M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.84%. The estimates for the next quarter sales put growth at 12.13%.
The 2025 estimates are for Bit Digital Inc earnings to decrease by -161.40%, but the outlook for the next 5-year period is at 31.29% per year.
Bit Digital Inc (NASDAQ:BTBT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.79% of Bit Digital Inc shares while 37.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.53%. There are 37.84% institutions holding the Bit Digital Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 8.6444% of the shares, roughly 11.07 million BTBT shares worth $35.2 million.
INVESCO LTD. holds the second largest percentage of outstanding shares, with 7.4277% or 9.51 million shares worth $30.25 million as of 2024-06-30.
Among Mutual Funds, the top two as of Feb 28, 2025 were iShares Trust-iShares Russell 2000 ETF and Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF. With 3.15 shares estimated at $6.19 million under it, the former controlled 3.82% of total outstanding shares. On the other hand, Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF held about 3.48% of the shares, roughly 2.87 shares worth around $5.64 million.
