Analysts Issue Forecasts for Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Northland Capmk issued their Q1 2025 earnings estimates for Bit Digital in a research note issued on Monday, November 18th. Northland Capmk analyst M. Grondahl anticipates 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.

Several other research analysts also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research report on Tuesday. B. Riley began coverage on shares of Bit Digital in a research note on Thursday, October 24th. They issued a “buy” rating and a $6.00 target price for the company.

Bit Digital Trading Down 1.4 %

BTBT stock opened at $4.00 on Wednesday. The firm has a 50 day moving average of $3.72 and a 200-day moving average of $3.27. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.74. The company has a market cap of $332.41 million, a price-to-earnings ratio of 66.58 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating 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 company had revenue of $28.95 million during the quarter, compared to the consensus estimate of $26.63 million.

Hedge Funds Weigh In On Bit Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Bit Digital by 1.7% in the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after buying an additional 94,762 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Bit Digital by 25.2% during the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock worth $17,259,000 after purchasing an additional 898,329 shares during the last quarter. Millennium Management LLC lifted its position in shares of Bit Digital by 66.6% during the second quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock worth $8,225,000 after purchasing an additional 1,033,767 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bit Digital by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock worth $8,512,000 after purchasing an additional 42,375 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of Bit Digital by 79.6% during the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock worth $6,089,000 after purchasing an additional 940,161 shares during the last quarter. 47.70% of the stock is owned by hedge funds and other institutional investors.

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.