Brokers Offer Predictions for Bit Digital FY2025 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Stock analysts at Northland Capmk raised their FY2025 earnings estimates for shares of Bit Digital in a note issued to investors on Monday, May 19th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings per share of ($0.05) for the year, up from their previous forecast of ($0.07). The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share.

Separately, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Bit Digital in a research note on Monday.

Bit Digital Price Performance

Shares of NASDAQ:BTBT opened at $2.42 on Wednesday. The company’s fifty day moving average price is $2.08 and its 200 day moving average price is $3.01. Bit Digital has a 12 month low of $1.69 and a 12 month high of $5.74. The firm has a market capitalization of $493.08 million, a P/E ratio of 40.33 and a beta of 5.25.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Bit Digital had a negative net margin of 2.75% and a negative return on equity of 5.69%. The firm had revenue of $25.11 million for the quarter, compared to analyst estimates of $26.38 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BTBT. Ballentine Partners LLC purchased a new position in Bit Digital during the 4th quarter worth $40,000. SG Americas Securities LLC grew its position in Bit Digital by 427.6% during the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company’s stock worth $643,000 after purchasing an additional 177,911 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Bit Digital by 2.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 935,629 shares of the company’s stock worth $2,741,000 after purchasing an additional 25,592 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in Bit Digital during the 4th quarter worth $74,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in Bit Digital during the 4th quarter worth $59,000. 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.