Northland Capmk Estimates Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Research analysts at Northland Capmk issued their Q1 2025 EPS estimates for Bit Digital in a note issued to investors on Monday, November 18th. Northland Capmk analyst M. Grondahl forecasts that the company will post earnings of ($0.01) per share for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bit Digital’s FY2025 earnings at $0.01 EPS.

A number of other analysts have also issued reports on the company. B. Riley initiated coverage on Bit Digital in a research note on Thursday, October 24th. They issued a “buy” rating and a $6.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research report on Tuesday.

Bit Digital Stock Up 0.2 %

Shares of NASDAQ:BTBT opened at $4.03 on Wednesday. The company has a market cap of $332.39 million, a P/E ratio of 67.17 and a beta of 4.79. The business has a fifty day simple moving average of $3.67 and a 200-day simple moving average of $3.26. Bit Digital has a 52 week low of $1.76 and a 52 week high of $5.74.

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

Institutional Investors Weigh In On Bit Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital during the 3rd quarter worth about $35,000. Creative Planning acquired a new position in Bit Digital during the third quarter valued at approximately $37,000. Thoroughbred Financial Services LLC purchased a new stake in Bit Digital during the second quarter worth approximately $38,000. Stifel Financial Corp acquired a new stake in shares of Bit Digital in the third quarter worth $38,000. Finally, Victory Capital Management Inc. raised its stake in shares of Bit Digital by 39.3% in the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after acquiring an additional 4,380 shares during the period. 47.70% of the stock is currently owned by institutional investors and hedge funds.

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.