B. Riley Has Positive Outlook of Bit Digital FY2025 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at B. Riley boosted their FY2025 earnings estimates for shares of Bit Digital in a research report issued to clients and investors on Wednesday, December 18th. B. Riley analyst N. Giles now expects that the company will post earnings of $0.22 per share for the year, up from their prior estimate of $0.20. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. B. Riley also issued estimates for Bit Digital’s FY2026 earnings at $0.42 EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Bit Digital in a research report on Tuesday, November 19th.

Bit Digital Trading Up 4.7 %

NASDAQ:BTBT opened at $3.33 on Monday. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.74. The firm has a market cap of $511.18 million, a PE ratio of 55.50 and a beta of 4.80. The stock has a fifty day moving average price of $4.16 and a 200 day moving average price of $3.56.

Hedge Funds Weigh In On Bit Digital

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after purchasing an additional 4,380 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Bit Digital by 22.0% during the third quarter. Tidal Investments LLC now owns 45,800 shares of the company’s stock valued at $161,000 after acquiring an additional 8,250 shares during the period. Crescent Grove Advisors LLC bought a new stake in shares of Bit Digital during the third quarter valued at approximately $35,000. Creative Planning bought a new position in shares of Bit Digital in the third quarter worth $37,000. Finally, Stifel Financial Corp acquired a new position in Bit Digital during the 3rd quarter valued at about $38,000. Hedge funds and other institutional investors own 47.70% of the company’s stock.

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.