Bit Digital (BTBT) Set to Announce Quarterly Earnings on Wednesday

Bit Digital (NASDAQ:BTBT) will issue its quarterly earnings data after the market closes on Wednesday, May 15th. Analysts expect the company to announce earnings of $0.01 per share for the quarter.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Monday, March 18th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $16.05 million for the quarter, compared to analyst estimates of $12.06 million. Bit Digital had a negative net margin of 30.93% and a negative return on equity of 6.20%. On average, analysts expect Bit Digital to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bit Digital Trading Up 1.4 %

NASDAQ BTBT opened at $2.20 on Thursday. The firm has a market capitalization of $181.46 million, a price-to-earnings ratio of -13.56 and a beta of 4.85. The firm’s 50 day simple moving average is $2.29 and its 200 day simple moving average is $2.67. Bit Digital has a 1 year low of $1.76 and a 1 year high of $5.27.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BTBT shares. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Bit Digital in a research report on Wednesday, March 20th. Northland Securities started coverage on shares of Bit Digital in a research report on Tuesday, February 13th. They set an “outperform” rating and a $6.00 price target on the stock.

About Bit Digital

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.