Brokerages Set Bit Digital, Inc. (NASDAQ:BTBT) Price Target at $5.12

Bit Digital, Inc. (NASDAQ:BTBT) has been assigned a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $5.1250.

A number of brokerages have weighed in on BTBT. Zacks Research upgraded shares of Bit Digital from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. B. Riley Financial restated a “buy” rating on shares of Bit Digital in a research report on Monday, May 18th. Weiss Ratings lowered Bit Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Finally, Craig Hallum restated a “buy” rating and issued a $3.50 price target on shares of Bit Digital in a research note on Tuesday, July 14th.

Institutional Trading of Bit Digital

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Bit Digital during the 1st quarter valued at approximately $8,004,000. Renaissance Technologies LLC increased its holdings in Bit Digital by 114.8% in the 1st quarter. Renaissance Technologies LLC now owns 7,359,377 shares of the company’s stock worth $9,641,000 after acquiring an additional 3,932,900 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Bit Digital by 524.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 597,032 shares of the company’s stock worth $1,128,000 after acquiring an additional 501,423 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Bit Digital by 61.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 691,923 shares of the company’s stock worth $1,412,000 after acquiring an additional 262,717 shares during the period. Finally, Lazard Asset Management LLC raised its position in Bit Digital by 30.6% during the first quarter. Lazard Asset Management LLC now owns 1,780,543 shares of the company’s stock worth $2,333,000 after acquiring an additional 417,501 shares during the period. 47.70% of the stock is owned by institutional investors and hedge funds.

Bit Digital Stock Performance

BTBT opened at $1.57 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 6.36 and a quick ratio of 6.36. The firm has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.69. Bit Digital has a 1 year low of $1.18 and a 1 year high of $4.55. The stock has a market cap of $548.23 million, a P/E ratio of -1.48 and a beta of 4.02.

Bit Digital (NASDAQ:BTBT) last announced 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 firm had revenue of $32.11 million for the quarter, compared to analysts’ expectations of $23.58 million. Bit Digital had a negative return on equity of 9.67% and a negative net margin of 237.19%. Equities research analysts anticipate that Bit Digital will post -0.55 earnings per share for the current year.

More Bit Digital News

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

• Positive Sentiment: Revenue reached approximately $32.1 million, exceeding the roughly $23.6 million consensus estimate and rising 15% sequentially. Cloud-services revenue grew 42% from the prior quarter, supported by new and expanded contracts. Bit Digital revenue rises as cloud services drive growth
• Positive Sentiment: Management used the earnings call to emphasize Bit Digital’s cloud-driven pivot, including expansion in AI and high-performance computing infrastructure. Investors may view this business mix as offering more predictable growth than cryptocurrency mining alone. Bit Digital Earnings Call Highlights Cloud-Driven Pivot
• Positive Sentiment: Analysts cited in one report assigned Bit Digital an average price target of $5.12, indicating substantial potential upside from recent trading levels, although price targets are subject to revision. Bit Digital Receives Average Analyst Price Target
• Neutral Sentiment: The company is positioning itself as a strategic asset company focused on Ethereum strategies and AI/HPC infrastructure. The earnings call and transcript provide additional details on this longer-term repositioning. Bit Digital Q2 2026 Earnings Call Transcript
• Negative Sentiment: Profitability remained the key concern. Bit Digital reported a quarterly loss, with coverage citing an adjusted loss of about $0.06 per share versus an expected loss of $0.05, while the company’s reported loss was substantially affected by impairments, digital-asset losses and interest costs. Bit Digital Q2 Earnings Miss Despite Revenue Beat
• Negative Sentiment: MarketBeat reported a loss of $0.31 per share versus the $0.05 consensus estimate, alongside a negative net margin of 145.39%, underscoring the volatility and execution risk surrounding the company’s crypto and infrastructure businesses. Bit Digital Q2 Earnings Results

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.