Bit Digital FY2025 EPS Estimate Boosted by Noble Financial

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Research analysts at Noble Financial increased their FY2025 earnings per share (EPS) estimates for Bit Digital in a note issued to investors on Wednesday, October 16th. Noble Financial analyst J. Gomes now anticipates that the company will post earnings of $0.37 per share for the year, up from their previous forecast of $0.31. The consensus estimate for Bit Digital's current full-year earnings is ($0.02) per share.

Separately, HC Wainwright boosted 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.

Bit Digital Stock Performance

Shares of BTBT traded down $0.01 during mid-day trading on Thursday, hitting $3.88. 13,229,720 shares of the company traded hands, compared to its average volume of 9,017,938. Bit Digital has a 1 year low of $1.76 and a 1 year high of $5.27. The stock has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $2.92. The stock has a market cap of $320.03 million, a price-to-earnings ratio of 12.93 and a beta of 4.79.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its 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. The business had revenue of $28.95 million for the quarter, compared to analysts' expectations of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in Bit Digital in the 4th quarter worth $1,583,000. Van ECK Associates Corp lifted its position in shares of Bit Digital by 133.9% during the 1st quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company's stock valued at $14,351,000 after buying an additional 2,862,309 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bit Digital by 9.5% during the 1st 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 in the last quarter. Bleakley Financial Group LLC purchased a new stake in Bit Digital in the 1st quarter worth approximately $33,000. Finally, Vident Advisory LLC raised its stake in Bit Digital by 79.6% during the 1st quarter. Vident Advisory LLC now owns 2,121,581 shares of the company's stock worth $6,089,000 after acquiring an additional 940,161 shares during the period. 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.