What is B. Riley’s Forecast for Bit Digital FY2025 Earnings?

Bit Digital, Inc. (NASDAQ:BTBT) – Research analysts at B. Riley cut their FY2025 earnings estimates for shares of Bit Digital in a note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will earn $0.21 per share for the year, down from their prior estimate of $0.22. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Bit Digital’s current full-year earnings is ($0.20) per share.

A number of other equities research analysts also recently issued reports on the stock. Craig Hallum initiated 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 for the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Bit Digital in a research report on Tuesday, November 19th.

Bit Digital Stock Performance

Shares of BTBT stock opened at $3.15 on Friday. Bit Digital has a 52-week low of $1.76 and a 52-week high of $5.74. The company has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $3.55. The company has a market capitalization of $483.56 million, a price-to-earnings ratio of 52.50 and a beta of 4.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTBT. The Manufacturers Life Insurance Company boosted its stake in Bit Digital by 42.4% in the second quarter. The Manufacturers Life Insurance Company now owns 44,219 shares of the company’s stock valued at $141,000 after acquiring an additional 13,170 shares during the last quarter. SG Americas Securities LLC boosted its stake in Bit Digital by 96.3% in the third quarter. SG Americas Securities LLC now owns 41,609 shares of the company’s stock valued at $146,000 after acquiring an additional 20,413 shares during the last quarter. Creative Planning purchased a new position in Bit Digital in the third quarter valued at about $37,000. Vima LLC boosted its stake in Bit Digital by 26.5% in the third quarter. Vima LLC now owns 89,469 shares of the company’s stock valued at $314,000 after acquiring an additional 18,748 shares during the last quarter. Finally, Capital Advisors Inc. OK purchased a new position in Bit Digital in the third quarter valued at about $88,000. 47.70% of the stock is currently 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.