Q1 Earnings Forecast for Bit Digital Issued By HC Wainwright

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - HC Wainwright issued their Q1 2025 earnings per share estimates for shares of Bit Digital in a note issued to investors on Monday, March 17th. HC Wainwright analyst K. Dede forecasts that the company will earn ($0.07) per share for the quarter. HC Wainwright has a "Buy" rating and a $7.00 price target on the stock. The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Bit Digital's Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.14) EPS.

Separately, Craig Hallum assumed coverage on shares of Bit Digital in a report on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price target on the stock.

Bit Digital Stock Performance

BTBT stock traded down $0.07 on Wednesday, hitting $2.33. 13,105,224 shares of the company's stock were exchanged, compared to its average volume of 12,855,445. The stock has a market cap of $357.68 million, a P/E ratio of 38.83 and a beta of 5.13. The firm has a 50 day moving average price of $2.90 and a two-hundred day moving average price of $3.42. Bit Digital has a 12-month low of $1.76 and a 12-month high of $5.74.

Bit Digital (NASDAQ:BTBT - Get Free Report) last issued its earnings results on Friday, March 14th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The company had revenue of $26.10 million for the quarter, compared to analysts' expectations of $25.06 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. During the same period last year, the business posted ($0.16) earnings per share.

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Hedge Funds Weigh In On Bit Digital

Several large investors have recently bought and sold shares of BTBT. State Street Corp grew its position in shares of Bit Digital by 1.7% in the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company's stock valued at $19,647,000 after buying an additional 94,762 shares during the last quarter. Vident Advisory LLC boosted its holdings in Bit Digital by 56.2% during the fourth quarter. Vident Advisory LLC now owns 3,194,409 shares of the company's stock worth $9,360,000 after buying an additional 1,149,727 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Bit Digital by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock worth $8,512,000 after buying an additional 42,375 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Bit Digital by 116.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company's stock worth $5,127,000 after acquiring an additional 943,214 shares during the last quarter. Finally, Millennium Management LLC increased its position in Bit Digital by 30.1% during the 4th quarter. Millennium Management LLC now owns 1,437,250 shares of the company's stock worth $4,211,000 after purchasing an additional 332,513 shares in the last quarter. Hedge funds and other 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.