Bit Digital, Inc. (NASDAQ:BTBT – Free Report) – Equities researchers at HC Wainwright boosted their Q4 2024 earnings estimates for shares of Bit Digital in a research report issued on Monday, July 1st. HC Wainwright analyst K. Dede now forecasts that the company will earn ($0.01) per share for the quarter, up from their prior estimate of ($0.03). HC Wainwright currently has a “Buy” rating and a $6.00 target price on the stock. The consensus estimate for Bit Digital’s current full-year earnings is $0.03 per share.
Bit Digital (NASDAQ:BTBT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Bit Digital had a net margin of 57.44% and a return on equity of 0.30%. The company had revenue of $30.29 million during the quarter, compared to the consensus estimate of $25.61 million.
Bit Digital Trading Down 4.4 %
Institutional Trading of Bit Digital
A number of institutional investors and hedge funds have recently made changes to their positions in BTBT. Invesco Ltd. lifted its stake in Bit Digital by 3,163.5% in the 3rd quarter. Invesco Ltd. now owns 5,661,083 shares of the company’s stock valued at $12,115,000 after purchasing an additional 5,487,615 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Bit Digital in the 4th quarter valued at approximately $3,384,000. Nomura Holdings Inc. bought a new position in Bit Digital in the 4th quarter valued at approximately $1,583,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Bit Digital by 21.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,745,552 shares of the company’s stock valued at $7,384,000 after purchasing an additional 304,830 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Bit Digital by 68.1% in the 4th quarter. SG Americas Securities LLC now owns 46,197 shares of the company’s stock valued at $195,000 after purchasing an additional 18,717 shares during the last quarter. 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.
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