Bit Digital FY2025 EPS Forecast Raised by Noble Financial

Bit Digital, Inc. (NASDAQ:BTBT) – Research analysts at Noble Financial lifted their FY2025 earnings per share (EPS) estimates for Bit Digital in a report released on Tuesday, November 5th. Noble Financial analyst J. Gomes now expects that the company will post earnings of $0.36 per share for the year, up from their prior estimate of $0.34. The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share.

A number of other research firms have also recently weighed in on BTBT. HC Wainwright boosted their price target on Bit Digital from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. B. Riley assumed coverage on Bit Digital in a report on Thursday, October 24th. They issued a “buy” rating and a $6.00 price target for the company.

Bit Digital Stock Up 17.1 %

NASDAQ BTBT opened at $4.10 on Thursday. Bit Digital has a fifty-two week low of $1.76 and a fifty-two week high of $5.27. The stock has a market cap of $338.17 million, a price-to-earnings ratio of 17.08 and a beta of 4.79. The business has a fifty day moving average of $3.38 and a 200-day moving average of $3.10.

Bit Digital (NASDAQ:BTBT) last posted its earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million. Bit Digital had a negative return on equity of 1.48% and a net margin of 33.30%.

Hedge Funds Weigh In On Bit Digital

Several institutional investors have recently added to or reduced their stakes in BTBT. Millennium Management LLC increased its stake in Bit Digital by 66.6% in the second quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock valued at $8,225,000 after purchasing an additional 1,033,767 shares during the last quarter. Vident Advisory LLC increased its stake in Bit Digital by 79.6% in the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock valued at $6,089,000 after purchasing an additional 940,161 shares during the last quarter. Van ECK Associates Corp increased its stake in Bit Digital by 25.2% in the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company’s stock valued at $17,259,000 after purchasing an additional 898,329 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Bit Digital in the second quarter valued at $2,126,000. Finally, Headlands Technologies LLC acquired a new position in Bit Digital in the second quarter valued at $910,000. 47.70% of the stock is currently owned by institutional investors and hedge funds.

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.