Q1 EPS Estimates for Bit Digital Lowered by Northland Capmk

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Equities researchers at Northland Capmk dropped their Q1 2025 earnings per share (EPS) estimates for shares of Bit Digital in a research report issued to clients and investors on Monday, March 17th. Northland Capmk analyst M. Grondahl now forecasts that the company will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.01). The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share. Northland Capmk also issued estimates for Bit Digital's Q2 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.07) EPS.

BTBT has been the topic of several other research reports. Craig Hallum began coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Bit Digital in a research note on Monday, March 17th.

Bit Digital Price Performance

Shares of Bit Digital stock traded down $0.07 during trading hours on Wednesday, hitting $2.33. The company's stock had a trading volume of 13,105,224 shares, compared to its average volume of 12,855,445. The company has a market capitalization of $357.68 million, a PE ratio of 38.83 and a beta of 5.13. The stock has a 50 day moving average of $2.90 and a 200 day moving average of $3.42. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74.

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Bit Digital (NASDAQ:BTBT - Get Free Report) last released its quarterly 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 business had revenue of $26.10 million for the quarter, compared to the consensus estimate 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 quarter last year, the company earned ($0.16) earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. State Street Corp increased its position in shares of Bit Digital by 1.7% during the third 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 period. Vident Advisory LLC grew its holdings in shares of Bit Digital by 56.2% during the 4th quarter. Vident Advisory LLC now owns 3,194,409 shares of the company's stock valued at $9,360,000 after purchasing an additional 1,149,727 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Bit Digital by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock worth $8,512,000 after purchasing an additional 42,375 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Bit Digital by 116.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company's stock worth $5,127,000 after purchasing an additional 943,214 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Bit Digital by 30.1% in the fourth 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 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.