Bit Digital (BTBT)

• Market cap: $511M
• 1 day: 4.72%
• 5 days: -20.14%
• 1 month: -21.65%
• 3 months: -7.50%
• 6 months: 37.04%
• Year to date: -12.60%
• 1 year: -20.71%
• 5 years: 909.09%
• 10 years: -27.92%

About: Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries.. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. It generates revenue from digital asset mining and ETH staking business.

Employees: 24

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

62% more repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 26

44% more first-time investments, than exits

New positions opened: 26 | Existing positions closed: 18

27% more call options, than puts

Call options by funds: $14.1M | Put options by funds: $11.1M

8% more funds holding

Funds holding: 106 [Q2] → 114 (+8) [Q3]

7% more capital invested

Capital invested by funds: $178M [Q2] → $191M (+$13M) [Q3]

6.84% less ownership

Funds ownership: 46.14% [Q2] → 39.3% (-6.84%) [Q3]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $6 80% upside
• Avg. target: $6.50 95% upside
• High target: $7 110% upside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

HC Wainwright & Co. Kevin Dede 52% 1-year accuracy 32 / 61 met price target	110% upside $7	Buy Reiterated	19 Nov 2024
B. Riley Securities Nick Giles 50% 1-year accuracy 1 / 2 met price target	80% upside $6	Buy Initiated	24 Oct 2024