Noble Financial Decreases Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT) – Stock analysts at Noble Financial cut their Q1 2025 earnings per share estimates for shares of Bit Digital in a research report issued to clients and investors on Tuesday, March 18th. Noble Financial analyst J. Gomes now forecasts that the company will post earnings of ($0.07) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. Noble Financial also issued estimates for Bit Digital’s Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.07) EPS and FY2026 earnings at $0.07 EPS.

Bit Digital (NASDAQ:BTBT) last announced its quarterly earnings results on Friday, March 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. The business had revenue of $26.10 million for the quarter, compared to analyst estimates of $25.06 million. During the same quarter last year, the firm posted ($0.16) EPS.

BTBT has been the topic of a number of other research reports. Craig Hallum initiated coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research note on Monday, March 17th.

Bit Digital Stock Performance

BTBT opened at $2.33 on Thursday. Bit Digital has a one year low of $1.76 and a one year high of $5.74. The stock’s fifty day moving average is $2.90 and its 200-day moving average is $3.42. The company has a market capitalization of $357.68 million, a PE ratio of 38.83 and a beta of 5.13.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp raised its position in Bit Digital by 1.7% during the third quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after buying an additional 94,762 shares during the period. Vident Advisory LLC grew its stake in Bit Digital by 56.2% in the fourth quarter. Vident Advisory LLC now owns 3,194,409 shares of the company’s stock valued at $9,360,000 after purchasing an additional 1,149,727 shares in the last quarter. Geode Capital Management LLC grew its stake in Bit Digital by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after purchasing an additional 42,375 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Bit Digital by 116.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock valued at $5,127,000 after purchasing an additional 943,214 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Bit Digital by 30.1% in the fourth quarter. Millennium Management LLC now owns 1,437,250 shares of the company’s stock valued at $4,211,000 after purchasing an additional 332,513 shares in the last quarter. 47.70% of the stock is owned by institutional investors and hedge funds.

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.