Q3 Earnings Estimate for Bit Digital Issued By B. Riley

Bit Digital, Inc. (NASDAQ:BTBT) – Equities research analysts at B. Riley issued their Q3 2024 EPS estimates for shares of Bit Digital in a research report issued to clients and investors on Wednesday, October 23rd. B. Riley analyst N. Giles expects that the company will post earnings of ($0.04) per share for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.02) per share. B. Riley also issued estimates for Bit Digital’s Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.05) EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.12 EPS, FY2025 earnings at $0.24 EPS, Q1 2026 earnings at $0.13 EPS, Q2 2026 earnings at $0.13 EPS, Q3 2026 earnings at $0.12 EPS and FY2026 earnings at $0.50 EPS.

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

Separately, HC Wainwright boosted their price target on shares of Bit Digital from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th.

Bit Digital Price Performance

BTBT opened at $4.31 on Monday. The company has a fifty day moving average price of $3.35 and a 200-day moving average price of $3.02. The firm has a market capitalization of $355.50 million, a P/E ratio of 14.37 and a beta of 4.79. Bit Digital has a one year low of $1.76 and a one year high of $5.27.

Institutional Trading of Bit Digital

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of Bit Digital by 133.9% during the 1st quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after acquiring an additional 2,862,309 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Bit Digital during the 1st quarter worth $33,000. Squarepoint Ops LLC bought a new stake in shares of Bit Digital during the 2nd quarter worth $2,126,000. Millennium Management LLC lifted its holdings in shares of Bit Digital by 66.6% during the 2nd quarter. Millennium Management LLC now owns 2,586,392 shares of the company’s stock worth $8,225,000 after acquiring an additional 1,033,767 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Bit Digital by 9.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company’s stock worth $5,483,000 after acquiring an additional 165,044 shares during the last quarter. 47.70% of the stock is owned by institutional investors.

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.