- Bit Digital shares surge 30% following a major strategic shift to Ethereum.
- Analysts provide a mixed outlook with a significant potential upside.
- GuruFocus metrics suggest a possible downside in fair value.
Shares of Bit Digital (BTBT, Financial) surged by 30% after the company unveiled a significant transition to an Ethereum-centric treasury strategy. In a bold move led by Ethereum expert Sam Tabar, Bit Digital raised $172 million and converted its Bitcoin holdings into over 100,000 ETH.
Wall Street Analysts Forecast
According to projections provided by seven analysts, Bit Digital Inc (BTBT, Financial) is expected to reach an average price target of $5.69 within a year, ranging from a high of $7.00 to a low of $4.80. This average target indicates a potential upside of 47.87% from its current trading price of $3.85. For more in-depth estimate data, visit the Bit Digital Inc (BTBT) Forecast page.
Brokerage Recommendations
The consensus recommendation from five brokerage firms currently rates Bit Digital Inc (BTBT, Financial) at 2.0, categorizing it as "Outperform." This rating scale spans from 1 to 5, where 1 signifies a Strong Buy and 5 indicates a Sell.
GuruFocus Valuation Insights
GuruFocus estimates suggest that the GF Value for Bit Digital Inc (BTBT, Financial) in one year is projected to be $3.45, implying a potential downside of 10.27% from the current price of $3.85. The GF Value represents GuruFocus' calculation of the stock’s fair trading value, derived from historical trading multiples and business growth expectations. For further detailed data, visit the Bit Digital Inc (BTBT) Summary page.
