Analysts Set Expectations for Bit Digital FY2025 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – HC Wainwright boosted their FY2025 earnings per share estimates for shares of Bit Digital in a report released on Monday, August 18th. HC Wainwright analyst K. Dede now anticipates that the company will earn ($0.01) per share for the year, up from their previous estimate of ($0.09). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Bit Digital’s FY2026 earnings at ($0.02) EPS.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $25.66 million for the quarter, compared to analyst estimates of $27.46 million. Bit Digital had a negative return on equity of 9.90% and a negative net margin of 52.86%.

Separately, Wall Street Zen raised Bit Digital from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $6.33.

Bit Digital Trading Up 1.5%

BTBT stock opened at $2.76 on Wednesday. The firm has a market cap of $887.15 million, a P/E ratio of -8.90 and a beta of 4.90. Bit Digital has a 12-month low of $1.69 and a 12-month high of $5.74. The stock’s 50 day simple moving average is $2.96 and its 200 day simple moving average is $2.56.

Institutional Investors Weigh In On Bit Digital

Several large investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. acquired a new stake in Bit Digital in the second quarter worth $10,385,000. Valiant Capital Management L.P. acquired a new stake in Bit Digital in the second quarter worth $8,760,000. Vident Advisory LLC increased its position in Bit Digital by 29.0% in the second quarter. Vident Advisory LLC now owns 3,723,069 shares of the company’s stock worth $8,154,000 after buying an additional 837,074 shares during the period. Geode Capital Management LLC increased its position in Bit Digital by 24.2% in the second quarter. Geode Capital Management LLC now owns 3,585,744 shares of the company’s stock worth $7,853,000 after buying an additional 699,134 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Bit Digital in the second quarter worth $7,512,000. 47.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bit Digital

In related news, Director Brock Jeffrey Pierce bought 500,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were purchased at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director directly owned 500,000 shares of the company’s stock, valued at approximately $1,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Samir Tabar bought 750,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was bought at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,108,089 shares of the company’s stock, valued at $4,216,178. This trade represents a 55.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

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.