Bit Digital, Inc. to Post Q1 2025 Earnings of $0.01 Per Share, Northland Capmk Forecasts (NASDAQ:BTBT)

Bit Digital, Inc. (NASDAQ:BTBT) – Analysts at Northland Capmk issued their Q1 2025 earnings estimates for shares of Bit Digital in a report issued on Wednesday, June 26th. Northland Capmk analyst M. Grondahl expects that the company will post earnings per share of $0.01 for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is $0.03 per share.

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Bit Digital in a research report on Friday, May 17th.

Bit Digital Stock Performance

Shares of BTBT opened at $3.35 on Friday. The firm’s 50 day moving average price is $2.50 and its two-hundred day moving average price is $2.73. The firm has a market cap of $276.31 million, a P/E ratio of 11.17 and a beta of 4.75. Bit Digital has a twelve month low of $1.76 and a twelve month high of $5.27.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Bit Digital had a net margin of 57.44% and a return on equity of 0.30%. The firm had revenue of $30.29 million during the quarter, compared to analysts’ expectations of $25.61 million.

Hedge Funds Weigh In On Bit Digital

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted 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 worth $12,115,000 after purchasing an additional 5,487,615 shares during the period. Van ECK Associates Corp lifted its position in Bit Digital by 133.9% during the first quarter. Van ECK Associates Corp now owns 5,000,337 shares of the company’s stock worth $14,351,000 after purchasing an additional 2,862,309 shares during the period. Vident Advisory LLC lifted its position in Bit Digital by 79.6% during the first quarter. Vident Advisory LLC now owns 2,121,581 shares of the company’s stock worth $6,089,000 after purchasing an additional 940,161 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Bit Digital by 9.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,910,596 shares of the company’s stock worth $5,483,000 after purchasing an additional 165,044 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Bit Digital by 21.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,061,395 shares of the company’s stock worth $4,490,000 after purchasing an additional 185,560 shares during the period. 47.70% of the stock is currently 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.