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JonesTrading maintains Buy rating on Bit Digital, sets price target at $3.50

Blockspace · ·by G4L

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  1. 1Bit Digital recorded $27.1 million in Q3 revenue, a 16% decrease compared to the previous quarter.
  2. 2JonesTrading reaffirmed its Buy rating and a $3.50 price target for Bit Digital, citing an upside potential of approximately 343% against Wednesday's closing price of $0.79.
  3. 3Analyst Kevin Dede stated that Bit Digital's revenue fell below market expectations and his own estimate of $30.3 million.

So what's the key point?

Bit Digital's revenue decreased by 16% from the previous quarter. However, JonesTrading expects the stock to rise further and maintained a price target of $3.50.

Source Blockspace · View original ↗

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