Noble Financial Predicts Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Stock analysts at Noble Financial issued their Q1 2025 EPS estimates for shares of Bit Digital in a research note issued to investors on Tuesday, November 19th. Noble Financial analyst J. Gomes forecasts that the company will post earnings per share of $0.01 for the quarter. The consensus estimate for Bit Digital's current full-year earnings is ($0.06) per share. Noble Financial also issued estimates for Bit Digital's Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.06 EPS and Q4 2025 earnings at $0.08 EPS.

BTBT has been the topic of several other research reports. B. Riley initiated coverage on shares of Bit Digital in a report on Thursday, October 24th. They set a "buy" rating and a $6.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research report on Tuesday.

Bit Digital Price Performance

Bit Digital stock traded down $0.05 during trading hours on Wednesday, reaching $3.98. The stock had a trading volume of 19,555,693 shares, compared to its average volume of 10,022,518. Bit Digital has a 52 week low of $1.76 and a 52 week high of $5.74. The company has a market cap of $328.27 million, a price-to-earnings ratio of 67.17 and a beta of 4.79. The business's 50 day moving average price is $3.67 and its 200-day moving average price is $3.26.

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

Institutional Investors Weigh In On Bit Digital

Several hedge funds have recently bought and sold shares of the stock. State Street Corp grew its holdings in shares of Bit Digital by 1.7% during the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company's stock worth $19,647,000 after purchasing an additional 94,762 shares during the period. Van ECK Associates Corp lifted its stake in Bit Digital by 25.2% during the third quarter. Van ECK Associates Corp now owns 4,459,689 shares of the company's stock worth $17,259,000 after purchasing an additional 898,329 shares during the last quarter. Millennium Management LLC lifted its stake in Bit Digital by 66.6% in the second 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 during the last quarter. Geode Capital Management LLC lifted its stake in Bit Digital by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock valued at $8,512,000 after buying an additional 42,375 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in Bit Digital by 79.6% in the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company's stock valued at $6,089,000 after buying an additional 940,161 shares during 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.