B. Riley Comments on Bit Digital's Q2 Earnings (NASDAQ:BTBT)

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Research analysts at B. Riley issued their Q2 2025 earnings per share (EPS) estimates for shares of Bit Digital in a research note issued to investors on Sunday, June 29th. B. Riley analyst N. Giles expects that the company will post earnings of ($0.02) per share for the quarter. The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share. B. Riley also issued estimates for Bit Digital's Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.09) EPS, Q4 2026 earnings at $0.03 EPS, FY2026 earnings at $0.05 EPS and FY2027 earnings at $0.12 EPS.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price target on shares of Bit Digital in a research report on Thursday, June 26th.

Bit Digital Price Performance

Shares of NASDAQ:BTBT traded up $0.32 during midday trading on Wednesday, hitting $2.63. 60,435,619 shares of the company's stock were exchanged, compared to its average volume of 15,664,566. Bit Digital has a 12 month low of $1.69 and a 12 month high of $5.74. The company has a market cap of $548.43 million, a PE ratio of -5.60 and a beta of 5.25. The stock has a 50 day moving average price of $2.31 and a 200-day moving average price of $2.62.

Bit Digital (NASDAQ:BTBT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $25.11 million during the quarter, compared to the consensus estimate of $26.38 million. Bit Digital had a negative return on equity of 10.83% and a negative net margin of 77.27%.

Insider Buying and Selling at Bit Digital

In related news, Director Brock Jeffrey Pierce acquired 500,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $1,000,000.00. Following the purchase, the director owned 500,000 shares in the company, valued at approximately $1,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Samir Tabar acquired 750,000 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were purchased at an average cost of $2.00 per share, for a total transaction of $1,500,000.00. Following the completion of the acquisition, the chief executive officer directly owned 2,108,089 shares in the company, valued at approximately $4,216,178. The trade was a 55.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 41.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of Bit Digital by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 33,753 shares of the company's stock worth $99,000 after buying an additional 11,107 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of Bit Digital in the fourth quarter valued at approximately $46,000. Tower Research Capital LLC TRC increased its position in shares of Bit Digital by 90.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,529 shares of the company's stock valued at $46,000 after acquiring an additional 7,395 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Bit Digital during the fourth quarter worth $378,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Bit Digital during the fourth quarter worth $39,000. 47.70% of the stock is currently owned by hedge funds and other institutional investors.

Bit Digital Company Profile

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.