Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Analysts at B. Riley lowered their FY2025 earnings per share (EPS) estimates for shares of Bit Digital in a note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will post earnings of $0.21 per share for the year, down from their prior estimate of $0.22. B. Riley has a "Strong-Buy" rating on the stock. The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share.
Other research analysts also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and set a $7.00 price objective on shares of Bit Digital in a research note on Tuesday, November 19th. Craig Hallum began coverage on shares of Bit Digital in a research report on Tuesday, January 21st. They set a "buy" rating and a $6.00 target price on the stock.
Check Out Our Latest Stock Analysis on Bit Digital
Bit Digital Stock Down 4.5 %
Shares of Bit Digital stock traded down $0.14 during trading hours on Friday, reaching $2.98. 15,650,209 shares of the stock traded hands, compared to its average volume of 16,405,244. The company has a 50 day moving average price of $3.40 and a 200 day moving average price of $3.55. The firm has a market capitalization of $457.46 million, a price-to-earnings ratio of 49.67 and a beta of 4.88. Bit Digital has a one year low of $1.76 and a one year high of $5.74.
Hedge Funds Weigh In On Bit Digital
Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Bit Digital by 192.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 806,631 shares of the company's stock worth $2,831,000 after acquiring an additional 530,411 shares in the last quarter. Stifel Financial Corp bought a new position in Bit Digital in the 3rd quarter worth about $38,000. SG Americas Securities LLC grew its stake in Bit Digital by 427.6% in the 4th quarter. SG Americas Securities LLC now owns 219,520 shares of the company's stock worth $643,000 after acquiring an additional 177,911 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Bit Digital in the 3rd quarter worth about $1,222,000. Finally, Geode Capital Management LLC grew its stake in Bit Digital by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company's stock worth $8,512,000 after acquiring an additional 42,375 shares in the last quarter. 47.70% of the stock is currently owned by institutional investors.
About Bit Digital
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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.
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