Bit Digital, Inc. (NASDAQ: BTBT) has had its FY2025 earnings forecast increased by Noble Financial from $0.31 to $0.37 per share. Currently, analysts expect Bit Digital to report a net loss of ($0.02) per share this year.
In its last earnings report on August 19, Bit Digital reported a loss of ($0.01) per share, surpassing estimates of ($0.03). The company generated $28.95 million in revenue, exceeding expectations of $26.63 million. Bit Digital showed a negative return on equity of 1.48% and a net margin of 33.30%.
HC Wainwright also raised its price target on Bit Digital from $6.00 to $7.00, giving it a “buy” rating.
Bit Digital Stock Performance
BTBT shares opened at $3.88 on Thursday. The stock has a market cap of $320.03 million, with a PE ratio of 12.93. Over the past year, it has fluctuated between a low of $1.76 and a high of $5.27.
Recent Institutional Activity
Several institutional investors have recently increased their stakes in Bit Digital, with Creative Planning investing $37,000 in Q3 and Bleakley Financial $33,000 in Q1. Victory Capital raised its investment by 39.3%, bringing its total to 15,522 shares valued at $49,000. Institutional and hedge funds own 47.70% of the stock.
About Bit Digital
Bit Digital focuses on bitcoin mining and digital asset management. It also offers cloud services for AI applications.
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