Northland Capmk Comments on Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Research analysts at Northland Capmk issued their Q1 2025 EPS estimates for Bit Digital in a research note issued to investors on Monday, November 18th. Northland Capmk analyst M. Grondahl forecasts that the company will earn ($0.01) per share for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share. Northland Capmk also issued estimates for Bit Digital’s FY2025 earnings at $0.01 EPS.

A number of other research analysts also recently commented on the stock. B. Riley began coverage on shares of Bit Digital in a research note on Thursday, October 24th. They set a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Bit Digital in a research report on Tuesday.

Bit Digital Stock Up 0.5 %

Shares of BTBT opened at $4.05 on Wednesday. Bit Digital has a 52-week low of $1.76 and a 52-week high of $5.74. The firm has a market cap of $334.04 million, a price-to-earnings ratio of 67.50 and a beta of 4.79. The business’s 50 day moving average is $3.70 and its two-hundred day moving average is $3.27.

Bit Digital (NASDAQ:BTBT) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, beating 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 firm had revenue of $28.95 million during the quarter, compared to the consensus estimate of $26.63 million.

Hedge Funds Weigh In On Bit Digital

Hedge funds have recently added to or reduced their stakes in the business. Crescent Grove Advisors LLC acquired a new stake in shares of Bit Digital during the 3rd quarter worth approximately $35,000. Creative Planning acquired a new position in Bit Digital during the 3rd quarter valued at about $37,000. Thoroughbred Financial Services LLC bought a new position in Bit Digital in the 2nd quarter worth approximately $38,000. Stifel Financial Corp acquired a new position in shares of Bit Digital during the third quarter valued at $38,000. Finally, Victory Capital Management Inc. increased its stake in Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock valued at $49,000 after buying an additional 4,380 shares during the period. 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.