Noble Financial Cuts Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT) – Noble Financial cut their Q1 2025 earnings estimates for shares of Bit Digital in a report released on Tuesday, March 18th. Noble Financial analyst J. Gomes now expects that the company will earn ($0.07) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. Noble Financial also issued estimates for Bit Digital’s Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.07) EPS and FY2026 earnings at $0.07 EPS.

Several other research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday. Craig Hallum started coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a “buy” rating and a $6.00 price objective on the stock.

Bit Digital Stock Down 0.8 %

NASDAQ:BTBT opened at $2.40 on Thursday. Bit Digital has a 52 week low of $1.76 and a 52 week high of $5.74. The firm has a market capitalization of $368.42 million, a P/E ratio of 40.00 and a beta of 5.13. The company has a fifty day moving average of $2.92 and a 200 day moving average of $3.43.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings data on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The business had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $25.06 million. During the same period last year, the company posted ($0.16) EPS.

Institutional Trading of Bit Digital

A number of large investors have recently made changes to their positions in the stock. OLD Mission Capital LLC bought a new stake in shares of Bit Digital in the fourth quarter valued at about $31,000. Stifel Financial Corp purchased a new stake in Bit Digital in the third quarter valued at approximately $38,000. Cibc World Markets Corp purchased a new stake in Bit Digital in the fourth quarter valued at approximately $33,000. Wedbush Securities Inc. purchased a new stake in Bit Digital in the fourth quarter valued at approximately $37,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in Bit Digital in the 4th quarter worth approximately $38,000. 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.