Shares of Bit Digital, Inc. (BTBT) surged sharply in today’s pre-market trading after the company reported better-than-expected second-quarter sales results. The company also announced a binding term sheet with Boosteroid, a cloud gaming platform provider. Bit Digital’s quarterly revenue came in at $29 million, surpassing the analyst consensus estimate of $26.09 million by 11.16%. This represents a significant 220.87% increase year-over-year. However, the company reported a quarterly loss of nine cents per share, missing the analyst consensus estimate of a loss of three cents per share. Despite the missed earnings target, the strong revenue performance propelled Bit Digital shares 11% higher to $3.32 in pre-market trading.
Several other companies experienced notable price movements in pre-market trading. Treasure Global Inc. (TGL) saw a massive 122.4% jump to $1.29 after submitting a request to withdraw its S-1 registration statement. Heramba Electric plc (PITA) gained 127% to $4.76, following a 10% surge on Monday. Titan Pharmaceuticals, Inc. (TTNP) soared 105.6% to $10.25 after entering into a merger and contribution and share exchange agreement with KE Sdn. Bhd.
Other notable gainers included Tantech Holdings Ltd (TANH), which rose 60.1% to $0.2036, MicroAlgo Inc. (MLGO) gaining 30.5% to $0.7180, and MicroCloud Hologram Inc. (HOLO) climbing 28.1% to $0.5340. Actelis Networks, Inc. (ASNS) jumped 22.3% to $1.59 after announcing a strategic partnership with an advanced cybersecurity provider to develop a novel AI-Powered SaaS offering. Golden Sun Health Technology Group Limited (GSUN) gained 19.1% to $6.62. Hawaiian Holdings, Inc. (HA) shares rose 10.1% to $17.48 after the U.S. Justice Department cleared the proposed $1.9 billion merger between Alaska Airlines (ALK) and Hawaiian Airlines. The merger is now pending approval from the U.S. Transportation Department.
On the other side of the spectrum, several companies saw declines in pre-market trading. Alzamend Neuro, Inc. (ALZN) shares dropped 29.1% to $4.15, despite a surge of 188% on Monday after the company announced a partnership with Massachusetts General Hospital for a clinical study of AL001 for PTSD treatment. Cingulate Inc. (CING) shares declined 25.6% to $9.52 after increasing the maximum offering price for common stock under its sales agreement. Sidus Space, Inc. (SIDU) fell 22.1% to $2.97 after reporting quarterly losses of 99 cents per share and $927,570 in revenue.
NuCana plc (NCNA) shares fell 20.5% to $7.69 despite a surge of 181% on Monday. GeoVax Labs, Inc. (GOVX) dropped 18.8% to $5.80. Sonder Holdings Inc. (SOND) fell 16.6% to $5.04, despite a 130% surge on Monday. Fluent Inc (FLNT) declined 16.3% to $2.51 after reporting worse-than-expected second-quarter financial results. Electra Battery Materials Corporation (ELBM) shares dipped 14.2% to $0.4797. Vipshop Holdings Limited (VIPS) declined 7.2% to $13.00 after reporting second-quarter results. ATRenew Inc. (RERE) shares fell 6.7% to $2.65 after reporting second-quarter results.
