B. Riley Has Strong Forecast for Bit Digital FY2025 Earnings

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Equities researchers at B. Riley lifted their FY2025 earnings per share estimates for shares of Bit Digital in a report released on Wednesday, December 18th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.22 per share for the year, up from their previous forecast 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 reiterated a "buy" rating and set a $7.00 price target on shares of Bit Digital in a report on Tuesday, November 19th.

Bit Digital Trading Down 5.4 %

NASDAQ:BTBT traded down $0.18 on Monday, reaching $3.17. 7,228,778 shares of the stock traded hands, compared to its average volume of 11,034,126. The company has a market capitalization of $486.62 million, a price-to-earnings ratio of 52.83 and a beta of 4.80. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74. The company's fifty day simple moving average is $4.17 and its 200 day simple moving average is $3.56.

Hedge Funds Weigh In On Bit Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crescent Grove Advisors LLC bought a new stake in shares of Bit Digital in the third quarter worth approximately $35,000. Creative Planning purchased a new stake in Bit Digital during the 3rd quarter valued at $37,000. Thoroughbred Financial Services LLC purchased a new position in shares of Bit Digital in the 2nd quarter worth $38,000. Stifel Financial Corp purchased a new position in shares of Bit Digital in the 3rd quarter worth $38,000. Finally, Victory Capital Management Inc. lifted its holdings in Bit Digital by 39.3% in the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company's stock valued at $49,000 after acquiring an additional 4,380 shares during the period. 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.