Noble Financial Raises FY2025 Earnings Estimate for Bit Digital, Inc.

Bit Digital, Inc., a bitcoin mining company, received a boost in its FY2025 earnings per share estimate from Noble Financial. Analyst J. Gomes now predicts that the company will post earnings of $0.37 per share for the year, up from the previous estimate of $0.31. This estimate is significantly higher than the consensus estimate of ($0.02) per share for Bit Digital’s current full-year earnings.

Bit Digital recently released its quarterly earnings results, reporting ($0.01) EPS for the quarter, surpassing the consensus estimate of ($0.03) by $0.02. The company generated $28.95 million in revenue for the quarter, exceeding analyst estimates of $26.63 million. Despite a negative return on equity of 1.48% and a net margin of 33.30%, Bit Digital’s performance has been promising.

Shares of Bit Digital opened at $3.88 on Thursday, with a 50-day simple moving average of $3.20 and a 200-day simple moving average of $2.93. The company currently holds a market cap of $320.03 million, a PE ratio of 12.93, and a beta of 4.79. Bit Digital’s stock has fluctuated between a 12-month low of $1.76 and a 12-month high of $5.27.

In terms of institutional investments, several firms have made modifications to their holdings of Bit Digital. Creative Planning acquired a stake worth $37,000, while Bleakley Financial Group LLC and Thoroughbred Financial Services LLC purchased positions worth $33,000 and $38,000, respectively. Victory Capital Management Inc. increased its holdings by 39.3% during the second quarter, now owning 15,522 shares valued at $49,000. Additionally, Sei Investments Co. acquired a position worth approximately $51,000 during the same period. Institutional investors and hedge funds currently own 47.70% of Bit Digital’s stock.

Bit Digital, Inc. is primarily engaged in bitcoin mining and also conducts treasury management activities, digital asset staking and mining businesses, as well as ethereum staking. The company also provides specialized cloud-infrastructure services for artificial intelligence applications.