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

Bit Digital (NASDAQ:BTBT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

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

Bit Digital Stock Up 2.7%

Shares of BTBT traded up $0.04 during mid-day trading on Monday, hitting $1.35. 4,937,805 shares of the company’s stock were exchanged, compared to its average volume of 24,760,010. The company has a market cap of $439.25 million, a price-to-earnings ratio of -2.45 and a beta of 4.02. Bit Digital has a fifty-two week low of $1.25 and a fifty-two week high of $4.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 17.53 and a current ratio of 6.39. The stock’s 50-day moving average is $1.66 and its 200-day moving average is $2.36.

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). The business had revenue of $32.34 million for the quarter, compared to analyst estimates of $31.87 million. Bit Digital had a negative return on equity of 5.39% and a negative net margin of 70.70%. On average, sell-side analysts anticipate that Bit Digital will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bit Digital

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Bit Digital in the third quarter valued at approximately $2,036,000. Van ECK Associates Corp increased its stake in Bit Digital by 47.2% in the third quarter. Van ECK Associates Corp now owns 6,921,408 shares of the company’s stock valued at $20,764,000 after purchasing an additional 2,220,486 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Bit Digital by 686.9% in the third quarter. JPMorgan Chase & Co. now owns 2,288,068 shares of the company’s stock valued at $6,864,000 after purchasing an additional 1,997,304 shares during the last quarter. Valiant Capital Management L.P. purchased a new position in Bit Digital in the second quarter valued at approximately $8,760,000. Finally, Monashee Investment Management LLC purchased a new position in Bit Digital in the third quarter valued at approximately $4,500,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines 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.