Bit Digital FY2024 EPS Estimate Decreased by Noble Financial

Bit Digital, Inc. (NASDAQ:BTBT) – Analysts at Noble Financial decreased their FY2024 EPS estimates for Bit Digital in a research note issued on Tuesday, November 19th. Noble Financial analyst J. Gomes now expects that the company will post earnings of ($0.23) per share for the year, down from their previous estimate of ($0.02). The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share. Noble Financial also issued estimates for Bit Digital’s Q4 2024 earnings at ($0.03) EPS and FY2025 earnings at $0.19 EPS.

BTBT has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a report on Tuesday. B. Riley assumed coverage on Bit Digital in a report on Thursday, October 24th. They set a “buy” rating and a $6.00 price target on the stock.

Bit Digital Stock Up 11.3 %

BTBT stock opened at $4.44 on Thursday. Bit Digital has a twelve month low of $1.76 and a twelve month high of $5.74. The stock has a market cap of $332.41 million, a P/E ratio of 74.00 and a beta of 4.79. The business’s 50-day moving average price is $3.76 and its 200-day moving average price is $3.29.

Hedge Funds Weigh In On Bit Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Crescent Grove Advisors LLC purchased a new position in shares of Bit Digital in the third quarter worth about $35,000. Creative Planning acquired a new stake in Bit Digital during the third quarter valued at $37,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Bit Digital during the 2nd quarter valued at about $38,000. Stifel Financial Corp acquired a new stake in Bit Digital in the third quarter valued at approximately $38,000. Finally, Victory Capital Management Inc. increased its holdings in Bit Digital by 39.3% in 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 in the last quarter. 47.70% of the stock is owned by hedge funds and other institutional investors.

Bit Digital Company Profile

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.