Northland Capmk Reduces Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at Northland Capmk lowered their Q1 2025 earnings estimates for shares of Bit Digital in a research note issued on Monday, March 17th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn ($0.04) per share for the quarter, down from their previous estimate of ($0.01). The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share. Northland Capmk also issued estimates for Bit Digital’s Q2 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.07) EPS.

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

Bit Digital Trading Down 6.2 %

BTBT opened at $2.26 on Wednesday. The firm has a market cap of $346.93 million, a price-to-earnings ratio of 37.67 and a beta of 5.13. Bit Digital has a 12 month low of $1.76 and a 12 month high of $5.74. The stock has a fifty day moving average price of $2.96 and a 200-day moving average price of $3.44.

Bit Digital (NASDAQ:BTBT) last posted its earnings results on Friday, March 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The company had revenue of $26.10 million for 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 in the prior year, the company earned ($0.16) EPS.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its holdings in shares of Bit Digital by 31.0% during the fourth quarter. Stifel Financial Corp now owns 14,027 shares of the company’s stock valued at $41,000 after acquiring an additional 3,320 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Bit Digital by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,846 shares of the company’s stock worth $132,000 after purchasing an additional 4,389 shares during the last quarter. Bank of New York Mellon Corp grew its position in Bit Digital by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 287,566 shares of the company’s stock worth $843,000 after purchasing an additional 6,621 shares during the last quarter. Rhumbline Advisers increased its stake in Bit Digital by 4.5% during the 4th quarter. Rhumbline Advisers now owns 156,715 shares of the company’s stock valued at $459,000 after purchasing an additional 6,809 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Bit Digital by 90.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company’s stock worth $46,000 after buying an additional 7,395 shares during 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.