Bit Digital FY2025 EPS Estimate Raised by Noble Financial

Bit Digital, Inc. (NASDAQ:BTBT) – Noble Financial boosted their FY2025 earnings per share estimates for Bit Digital in a report issued on Wednesday, October 16th. Noble Financial analyst J. Gomes now expects that the company will post earnings of $0.37 per share for the year, up from their prior forecast of $0.31. The consensus estimate for Bit Digital’s current full-year earnings is ($0.02) per share.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $28.95 million for the quarter, compared to the consensus estimate of $26.63 million.

Separately, HC Wainwright increased their price objective on Bit Digital from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday.

Bit Digital Stock Performance

Shares of BTBT opened at $4.05 on Thursday. The stock has a market capitalization of $334.06 million, a price-to-earnings ratio of 13.50 and a beta of 4.79. Bit Digital has a 52 week low of $1.76 and a 52 week high of $5.27. The stock has a fifty day moving average of $3.22 and a 200-day moving average of $2.94.

Institutional Trading of Bit Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC bought a new position in shares of Bit Digital in the 1st quarter worth about $33,000. Creative Planning bought a new position in shares of Bit Digital in the 3rd quarter worth about $37,000. Thoroughbred Financial Services LLC bought a new position in shares of Bit Digital in the 2nd quarter worth about $38,000. Victory Capital Management Inc. raised its position 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 worth $49,000 after acquiring an additional 4,380 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Bit Digital in the 2nd quarter worth about $51,000. 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.