HC Wainwright Increases Earnings Estimates for Bit Digital

Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Analysts at HC Wainwright raised their Q2 2025 earnings estimates for shares of Bit Digital in a report issued on Monday, May 19th. HC Wainwright analyst K. Dede now expects that the company will post earnings per share of ($0.03) for the quarter, up from their previous estimate of ($0.05). HC Wainwright currently has a "Buy" rating and a $7.00 target price on the stock. The consensus estimate for Bit Digital's current full-year earnings is ($0.20) per share. HC Wainwright also issued estimates for Bit Digital's Q3 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.09) EPS and FY2026 earnings at ($0.01) EPS.

Bit Digital Stock Down 2.0%

Shares of NASDAQ:BTBT traded down $0.05 during trading on Wednesday, reaching $2.50. 17,044,929 shares of the company traded hands, compared to its average volume of 14,221,311. The firm has a market cap of $519.45 million, a P/E ratio of 41.67 and a beta of 5.25. The firm has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.98. Bit Digital has a 1-year low of $1.69 and a 1-year high of $5.74.

Bit Digital (NASDAQ:BTBT - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). The company had revenue of $25.11 million for the quarter, compared to analyst estimates of $26.38 million. Bit Digital had a negative return on equity of 5.69% and a negative net margin of 2.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC grew its position in Bit Digital by 56.2% during the fourth quarter. Vident Advisory LLC now owns 3,194,409 shares of the company's stock worth $9,360,000 after buying an additional 1,149,727 shares in the last quarter. Millennium Management LLC grew its stake in Bit Digital by 62.6% during the first quarter. Millennium Management LLC now owns 2,337,217 shares of the company's stock worth $4,721,000 after buying an additional 899,967 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Bit Digital by 14.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,131,729 shares of the company's stock worth $4,306,000 after acquiring an additional 273,480 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Bit Digital by 12.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,965,801 shares of the company's stock worth $3,971,000 after acquiring an additional 215,956 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in Bit Digital by 203.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 1,089,300 shares of the company's stock valued at $2,200,000 after purchasing an additional 730,766 shares in the last quarter. 47.70% of the stock is currently owned by institutional investors and hedge funds.

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.