Northland Capmk Weighs in on Bit Digital Q1 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Equities research analysts at Northland Capmk issued their Q1 2025 earnings estimates for Bit Digital in a research note issued to investors on Monday, November 18th. Northland Capmk analyst M. Grondahl expects that the company will post earnings of ($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.

Several other research analysts have also recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research report on Tuesday. B. Riley assumed coverage on shares of Bit Digital in a report on Thursday, October 24th. They issued a “buy” rating and a $6.00 price target for the company.

Bit Digital Price Performance

BTBT opened at $4.03 on Wednesday. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74. The stock has a market capitalization of $332.39 million, a P/E ratio of 67.17 and a beta of 4.79. The business has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $3.26.

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

Hedge Funds Weigh In On Bit Digital

Several hedge funds and other institutional investors have recently bought and sold shares of BTBT. Crescent Grove Advisors LLC purchased a new stake in shares of Bit Digital in the 3rd quarter worth about $35,000. Creative Planning acquired a new stake in shares of Bit Digital in the third quarter valued at approximately $37,000. Stifel Financial Corp purchased a new position in shares of Bit Digital during the 3rd quarter worth approximately $38,000. Thoroughbred Financial Services LLC acquired a new position in shares of Bit Digital during the 2nd quarter worth approximately $38,000. Finally, Victory Capital Management Inc. lifted its stake in Bit Digital by 39.3% in 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 in the last quarter. 47.70% of the stock is 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.