Noble Financial Expects Stronger Earnings for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Investment analysts at Noble Financial raised their FY2025 earnings estimates for shares of Bit Digital in a report released on Tuesday, November 5th. Noble Financial analyst J. Gomes now anticipates that the company will earn $0.36 per share for the year, up from their prior forecast of $0.34. The consensus estimate for Bit Digital's current full-year earnings is ($0.06) per share.

BTBT has been the subject of several other reports. B. Riley assumed coverage on shares of Bit Digital in a report on Thursday, October 24th. They issued a "buy" rating and a $6.00 price objective for the company. HC Wainwright upped their target price on shares of Bit Digital from $6.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th.

Bit Digital Trading Up 1.5 %

NASDAQ BTBT traded up $0.06 during trading on Thursday, hitting $4.16. The company had a trading volume of 12,769,565 shares, compared to its average volume of 9,286,135. Bit Digital has a one year low of $1.76 and a one year high of $5.27. The company has a market cap of $277.97 million, a price-to-earnings ratio of 17.08 and a beta of 4.79. The company's fifty day moving average is $3.38 and its 200-day moving average is $3.10.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC bought a new position in shares of Bit Digital in the first quarter worth about $33,000. Squarepoint Ops LLC bought a new position in Bit Digital in the 2nd quarter worth approximately $2,126,000. Millennium Management LLC grew its holdings in Bit Digital by 66.6% during the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company's stock valued at $8,225,000 after buying an additional 1,033,767 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bit Digital by 9.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company's stock valued at $5,483,000 after buying an additional 165,044 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bit Digital by 42.4% during the second quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company's stock valued at $141,000 after buying an additional 13,170 shares during the last quarter. 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.