B. Riley Has Positive Outlook of Bit Digital FY2025 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at B. Riley boosted their FY2025 earnings estimates for shares of Bit Digital in a research report issued to clients and investors on Wednesday, December 18th. B. Riley analyst N. Giles now expects that the company will post earnings of $0.22 per share for the year, up from their prior estimate of $0.20. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. B. Riley also issued estimates for Bit Digital’s FY2026 earnings at $0.42 EPS.

Separately, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a report on Tuesday, November 19th.

Bit Digital Stock Performance

Bit Digital stock opened at $3.18 on Monday. The company has a market capitalization of $488.16 million, a PE ratio of 53.00 and a beta of 4.80. Bit Digital has a fifty-two week low of $1.76 and a fifty-two week high of $5.74. The firm has a 50 day moving average price of $4.17 and a 200 day moving average price of $3.56.

Hedge Funds Weigh In On Bit Digital

Several institutional investors have recently modified their holdings of BTBT. Bank of New York Mellon Corp grew its stake in Bit Digital by 51.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 373,241 shares of the company’s stock worth $1,187,000 after purchasing an additional 126,101 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Bit Digital by 48.3% in the 2nd quarter. Rhumbline Advisers now owns 158,748 shares of the company’s stock valued at $505,000 after buying an additional 51,695 shares during the period. Victory Capital Management Inc. grew its position in shares of Bit Digital by 39.3% during the second quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after buying an additional 4,380 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Bit Digital during the second quarter worth approximately $910,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in Bit Digital in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 47.70% of the company’s stock.

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.