Analysts Issue Forecasts for Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at Northland Capmk issued their Q1 2025 earnings estimates for Bit Digital in a research note issued to investors on Monday, November 18th. Northland Capmk analyst M. Grondahl expects that the company will post earnings per share of ($0.01) for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bit Digital’s FY2025 earnings at $0.01 EPS.

A number of other equities research analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Bit Digital in a research note on Tuesday. B. Riley initiated coverage on shares of Bit Digital in a report on Thursday, October 24th. They issued a “buy” rating and a $6.00 target price on the stock.

Bit Digital Stock Down 1.4 %

Shares of NASDAQ:BTBT opened at $4.00 on Wednesday. The firm has a fifty day moving average of $3.72 and a two-hundred day moving average of $3.27. The firm has a market capitalization of $332.41 million, a P/E ratio of 66.58 and a beta of 4.79. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.74.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Monday, August 19th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The firm had revenue of $28.95 million during the quarter, compared to analyst estimates of $26.63 million.

Institutional Trading of Bit Digital

Institutional investors have recently made changes to their positions in the business. Crescent Grove Advisors LLC acquired a new position in Bit Digital in the third quarter valued at about $35,000. Creative Planning bought a new position in shares of Bit Digital in the third quarter worth about $37,000. Thoroughbred Financial Services LLC bought a new position in shares of Bit Digital in the second quarter worth about $38,000. Stifel Financial Corp bought a new position in shares of Bit Digital in the third quarter worth about $38,000. Finally, Victory Capital Management Inc. raised its stake in shares of Bit Digital by 39.3% during the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after buying an additional 4,380 shares during the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

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.