FY2025 EPS Estimates for Bit Digital, Inc. Raised by Analyst (NASDAQ:BTBT)

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at Noble Financial lifted their FY2025 earnings estimates for Bit Digital in a research report issued to clients and investors on Wednesday, October 16th. Noble Financial analyst J. Gomes now expects that the company will post earnings per share of $0.37 for the year, up from their prior estimate of $0.31. The consensus estimate for Bit Digital’s current full-year earnings is ($0.02) per share.

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

Separately, HC Wainwright upped their price target on Bit Digital from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday.

Bit Digital Stock Performance

BTBT opened at $3.89 on Thursday. The stock has a market cap of $320.86 million, a price-to-earnings ratio of 12.97 and a beta of 4.79. The firm’s fifty day moving average is $3.18 and its 200 day moving average is $2.92. Bit Digital has a fifty-two week low of $1.76 and a fifty-two week high of $5.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BTBT. Victory Capital Management Inc. lifted its position in Bit Digital by 39.3% in the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after buying an additional 4,380 shares during the last quarter. Creative Planning purchased a new position in shares of Bit Digital during the third quarter valued at $37,000. Bleakley Financial Group LLC bought a new stake in shares of Bit Digital in the 1st quarter valued at about $33,000. Thoroughbred Financial Services LLC purchased a new stake in Bit Digital during the second quarter worth $38,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Bit Digital by 42.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company’s stock worth $141,000 after purchasing an additional 13,170 shares during the last quarter. Institutional investors own 47.70% of the company’s stock.

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.