Bit Digital, Inc. Forecasted to Post Q1 2024 Earnings of $0.06 Per Share (NASDAQ:BTBT)

Bit Digital, Inc. (NASDAQ:BTBT) – Stock analysts at Singular Research issued their Q1 2024 earnings per share (EPS) estimates for Bit Digital in a research note issued to investors on Wednesday, March 27th. Singular Research analyst E. Engel anticipates that the company will post earnings of $0.06 per share for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is $0.02 per share. Singular Research also issued estimates for Bit Digital’s Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.29 EPS.

BTBT has been the topic of several other research reports. Northland Securities initiated coverage on shares of Bit Digital in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $6.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Bit Digital in a report on Wednesday, March 20th.

Bit Digital Price Performance

Shares of BTBT opened at $2.87 on Friday. The stock has a market capitalization of $236.72 million, a price-to-earnings ratio of -17.94 and a beta of 4.75. Bit Digital has a 1 year low of $1.36 and a 1 year high of $5.27. The business’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $2.66.

Institutional Trading of Bit Digital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its position in Bit Digital by 3,163.5% during the third quarter. Invesco Ltd. now owns 5,661,083 shares of the company’s stock valued at $12,115,000 after acquiring an additional 5,487,615 shares during the last quarter. BlackRock Inc. grew its holdings in Bit Digital by 1,490.3% during the 2nd quarter. BlackRock Inc. now owns 5,359,825 shares of the company’s stock valued at $21,761,000 after purchasing an additional 5,022,791 shares during the last quarter. State Street Corp grew its holdings in Bit Digital by 3,495.6% during the 2nd quarter. State Street Corp now owns 3,640,765 shares of the company’s stock valued at $14,782,000 after purchasing an additional 3,539,509 shares during the last quarter. Geode Capital Management LLC purchased a new stake in Bit Digital in the 2nd quarter worth about $4,356,000. Finally, Van ECK Associates Corp lifted its stake in Bit Digital by 70.2% in the third quarter. Van ECK Associates Corp now owns 2,041,295 shares of the company’s stock worth $4,368,000 after purchasing an additional 842,256 shares during the last quarter. Hedge funds and other 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.