Noble Financial Lifts Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT) – Noble Financial lifted their FY2025 earnings estimates for Bit Digital in a research note issued on Tuesday, November 5th. Noble Financial analyst J. Gomes now expects that the company will earn $0.36 per share for the year, up from their previous forecast of $0.34. The consensus estimate for Bit Digital’s current full-year earnings is ($0.06) per share.

Bit Digital (NASDAQ:BTBT) last issued its earnings results on Monday, August 19th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $28.95 million during the quarter, compared to analysts’ expectations of $26.63 million. Bit Digital had a net margin of 33.30% and a negative return on equity of 1.48%.

Several other equities analysts have also issued reports on BTBT. HC Wainwright lifted their price target on Bit Digital from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. B. Riley initiated coverage on Bit Digital in a research note on Thursday, October 24th. They set a “buy” rating and a $6.00 target price for the company.

Bit Digital Price Performance

Shares of BTBT opened at $4.29 on Thursday. The firm has a 50 day simple moving average of $3.42 and a two-hundred day simple moving average of $3.13. Bit Digital has a one year low of $1.76 and a one year high of $5.27. The company has a market cap of $277.97 million, a P/E ratio of 17.88 and a beta of 4.79.

Institutional Investors Weigh In On Bit Digital

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bleakley Financial Group LLC bought a new stake in shares of Bit Digital during the first quarter worth about $33,000. Crescent Grove Advisors LLC acquired a new stake in Bit Digital during the 3rd quarter worth approximately $35,000. Creative Planning bought a new stake in Bit Digital during the 3rd quarter worth approximately $37,000. Thoroughbred Financial Services LLC bought a new position in Bit Digital during the 2nd quarter worth $38,000. Finally, Victory Capital Management Inc. lifted its holdings in Bit Digital by 39.3% during the 2nd quarter. Victory Capital Management Inc. now owns 15,522 shares of the company’s stock worth $49,000 after buying an additional 4,380 shares during the period. Institutional investors 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.