Noble Financial Decreases Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT) – Research analysts at Noble Financial dropped their Q1 2025 earnings per share (EPS) estimates for shares of Bit Digital in a report issued on Tuesday, March 18th. Noble Financial analyst J. Gomes now expects that the company will earn ($0.07) per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. Noble Financial also issued estimates for Bit Digital’s Q2 2025 earnings at ($0.02) EPS, Q3 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.07) EPS and FY2026 earnings at $0.07 EPS.

Several other equities research analysts have also commented on the company. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research note on Monday. Craig Hallum started coverage on Bit Digital in a research note on Tuesday, January 21st. They issued a “buy” rating and a $6.00 price objective for the company.

Bit Digital Price Performance

NASDAQ:BTBT opened at $2.42 on Thursday. The firm has a market capitalization of $371.49 million, a price-to-earnings ratio of 40.33 and a beta of 5.13. Bit Digital has a one year low of $1.76 and a one year high of $5.74. The business has a fifty day moving average price of $2.94 and a 200-day moving average price of $3.43.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Friday, March 14th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $26.10 million during the quarter, compared to analysts’ expectations of $25.06 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%. During the same quarter last year, the company earned ($0.16) earnings per share.

Hedge Funds Weigh In On Bit Digital

Institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Bit Digital by 1.7% during the 3rd quarter. State Street Corp now owns 5,597,517 shares of the company’s stock valued at $19,647,000 after purchasing an additional 94,762 shares during the last quarter. Vident Advisory LLC boosted its holdings in Bit Digital by 56.2% during the 4th quarter. Vident Advisory LLC now owns 3,194,409 shares of the company’s stock valued at $9,360,000 after acquiring an additional 1,149,727 shares during the period. Geode Capital Management LLC boosted its holdings in Bit Digital by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,425,057 shares of the company’s stock valued at $8,512,000 after acquiring an additional 42,375 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Bit Digital by 116.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,749,845 shares of the company’s stock valued at $5,127,000 after acquiring an additional 943,214 shares during the period. Finally, Millennium Management LLC boosted its holdings in Bit Digital by 30.1% during the 4th quarter. Millennium Management LLC now owns 1,437,250 shares of the company’s stock valued at $4,211,000 after acquiring an additional 332,513 shares during the period. 47.70% of the stock is owned by hedge funds and other institutional investors.

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.