Q3 Earnings Forecast for Bit Digital Issued By B. Riley

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at B. Riley issued their Q3 2024 earnings per share estimates for shares of Bit Digital in a research report issued on Wednesday, October 23rd. B. Riley analyst N. Giles expects that the company will post earnings per share of ($0.04) for the quarter. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.02) per share. B. Riley also issued estimates for Bit Digital’s Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.05) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.24 EPS, Q1 2026 earnings at $0.13 EPS, Q2 2026 earnings at $0.13 EPS, Q3 2026 earnings at $0.12 EPS and FY2026 earnings at $0.50 EPS.

Separately, HC Wainwright raised their price target on Bit Digital from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th.

Bit Digital Trading Down 1.8 %

Shares of NASDAQ BTBT opened at $3.93 on Monday. The company has a market cap of $324.16 million, a price-to-earnings ratio of 13.10 and a beta of 4.79. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.27. The stock’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $3.00.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new position in Bit Digital during the 3rd quarter worth $37,000. Bleakley Financial Group LLC acquired a new position in Bit Digital during the 1st quarter worth $33,000. Thoroughbred Financial Services LLC acquired a new position in Bit Digital during the 2nd quarter worth $38,000. Victory Capital Management Inc. boosted its position in Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after acquiring an additional 4,380 shares during the period. Finally, Sei Investments Co. acquired a new position in Bit Digital during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 47.70% of the company’s stock.

About Bit Digital

Bit Digital, Inc, together with its subsidiaries, engages in the bitcoin mining business. It is also involved in the treasury management activities; and digital asset staking and digital asset mining businesses, as well as ethereum staking activities. In addition, it provides specialized cloud-infrastructure services for artificial intelligence applications.