Q1 EPS Estimates for Bit Digital Cut by Noble Financial

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Equities research analysts at Noble Financial dropped their Q1 2025 earnings per share (EPS) estimates for shares of Bit Digital in a research report issued on Tuesday, March 18th. Noble Financial analyst J. Gomes now forecasts that the company will post earnings per share of ($0.07) for the quarter, down from their prior estimate of $0.01. The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share. Noble Financial also issued estimates for Bit Digital's Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.07) EPS and FY2026 earnings at $0.07 EPS.

A number of other brokerages have also recently commented on BTBT. Craig Hallum assumed coverage on shares of Bit Digital in a research note on Tuesday, January 21st. They issued a "buy" rating and a $6.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Bit Digital in a research note on Monday, March 17th.

Bit Digital Stock Up 6.9 %

Shares of NASDAQ:BTBT traded up $0.16 during midday trading on Thursday, hitting $2.49. The stock had a trading volume of 14,918,903 shares, compared to its average volume of 12,863,821. The company has a market cap of $382.24 million, a P/E ratio of 41.50 and a beta of 5.13. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74. The business's 50-day simple moving average is $2.89 and its 200-day simple moving average is $3.43.

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Bit Digital (NASDAQ:BTBT - Get Free Report) last released its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company 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 in the previous year, the company posted ($0.16) EPS.

Hedge Funds Weigh In On Bit Digital

Large investors have recently modified their holdings of the stock. Stifel Financial Corp grew its stake in Bit Digital by 31.0% in the 4th quarter. Stifel Financial Corp now owns 14,027 shares of the company's stock valued at $41,000 after buying an additional 3,320 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Bit Digital by 10.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 44,846 shares of the company's stock worth $132,000 after acquiring an additional 4,389 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Bit Digital by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company's stock worth $843,000 after acquiring an additional 6,621 shares during the period. Rhumbline Advisers grew its position in shares of Bit Digital by 4.5% in the fourth quarter. Rhumbline Advisers now owns 156,715 shares of the company's stock valued at $459,000 after purchasing an additional 6,809 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Bit Digital by 90.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company's stock worth $46,000 after purchasing an additional 7,395 shares during the period. 47.70% of the stock is owned by institutional investors.

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.