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

Bit Digital (NASDAQ:BTBT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

BTBT has been the subject of several other reports. 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 lowered Bit Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 30th. B. Riley Financial reduced their target price on Bit Digital from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Finally, Wall Street Zen lowered 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.67.

Bit Digital Stock Performance

BTBT stock opened at $1.31 on Monday. The firm has a market cap of $427.82 million, a PE ratio of -2.38 and a beta of 4.02. The company has a quick ratio of 17.53, a current ratio of 6.39 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $1.66 and a 200-day moving average of $2.36. Bit Digital has a 12-month low of $1.25 and a 12-month high of $4.55.

Bit Digital (NASDAQ:BTBT) last released its 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 during the quarter, compared to the consensus estimate of $31.87 million. Bit Digital had a negative net margin of 70.70% and a negative return on equity of 5.39%. As a group, sell-side analysts expect that Bit Digital will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Bit Digital

Several institutional investors have recently bought and sold shares of BTBT. State Street Corp lifted its position in shares of Bit Digital by 40.3% during the fourth quarter. State Street Corp now owns 11,518,002 shares of the company’s stock worth $21,769,000 after acquiring an additional 3,307,076 shares in the last quarter. Invesco Ltd. lifted its position in shares of Bit Digital by 18.0% during the fourth quarter. Invesco Ltd. now owns 10,492,680 shares of the company’s stock worth $19,831,000 after acquiring an additional 1,604,011 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bit Digital by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 9,347,321 shares of the company’s stock worth $17,669,000 after acquiring an additional 403,097 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Bit Digital by 549.2% during the third quarter. Vanguard Group Inc. now owns 7,330,673 shares of the company’s stock worth $21,992,000 after acquiring an additional 6,201,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Bit Digital by 21.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,123,173 shares of the company’s stock worth $13,463,000 after acquiring an additional 1,260,686 shares in the last quarter. Hedge funds and other institutional investors own 47.70% of the company’s stock.

Bit Digital News Roundup

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

• Positive Sentiment: Bit Digital reported it held ~155,444 ETH as of March 31, 2026, valued at roughly $327.0M based on the March 31 close — a sizable liquid asset base that underpins the balance sheet and provides optionality for capital allocation. PR: Monthly Ethereum Treasury and Staking Metrics
• Positive Sentiment: Management is repositioning the business toward Ethereum and AI infrastructure, highlighting 2025 results and a strategic pivot that could broaden revenue streams beyond pure BTC/ETH mining. This strategic messaging supports a longer-term growth narrative. Video: 2025 results and strategic pivot
• Positive Sentiment: The company holds a large position in WYFI shares (reported at roughly $322M in some coverage), adding another material non-mining asset that can support liquidity or monetization options. Article: WYFI stake and staking changes
• Positive Sentiment: Management reduced the portion of ETH allocated to staking in March to increase treasury flexibility — a move that prioritizes liquidity and optionality amid volatile crypto markets, though it may lower near-term staking revenue. Proactive: Staking allocation adjustment
• Neutral Sentiment: Multiple research shops updated FY2026 and quarterly EPS forecasts: Northland projects FY2026 EPS of ($0.09) with Q1/Q2 around ($0.04), while HC Wainwright provided quarterly schedules and maintains a Buy rating with a $7 target. These analyst models give guidance on expectations but show dispersion among forecasters.
• Neutral Sentiment: Comparative and sector coverage (e.g., a financial comparison with AirSculpt Technologies) may attract attention from different investor sets but is unlikely to move the stock materially by itself. Comparison: Bit Digital vs. AirSculpt
• Negative Sentiment: Market reaction: coverage noted the stock traded lower in the latest session (price weakness), reflecting investor concern about near-term earnings, staking yield trade-offs, and macro/crypto volatility that can pressure miner valuations. Zacks: Stock Sinks As Market Gains
• Negative Sentiment: HC Wainwright lowered its FY2026 EPS view (previously positive) and pushed some quarterly estimates into modest losses — a downward revision that can weigh on sentiment despite the firm’s Buy rating and $7 target. (Market expectations now reflect continued near-term negative EPS.)

About Bit Digital

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.