Q3 Earnings Forecast for Bit Digital Issued By HC Wainwright

Key Points

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Bit Digital, Inc. (NASDAQ:BTBT - Free Report) - Research analysts at HC Wainwright upped their Q3 2025 EPS estimates for Bit Digital in a research report issued on Monday, August 18th. HC Wainwright analyst K. Dede now forecasts that the company will post earnings per share of $0.00 for the quarter, up from their prior forecast of ($0.01). 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.

Separately, Wall Street Zen raised shares of Bit Digital from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, Bit Digital has a consensus rating of "Buy" and an average price target of $6.33.

Bit Digital Stock Up 5.9%

Shares of NASDAQ:BTBT traded up $0.16 during midday trading on Tuesday, hitting $2.88. The stock had a trading volume of 20,383,953 shares, compared to its average volume of 31,553,334. Bit Digital has a 12 month low of $1.69 and a 12 month high of $5.74. The business's 50-day simple moving average is $2.97 and its 200-day simple moving average is $2.55. The company has a market cap of $925.72 million, a P/E ratio of -9.29 and a beta of 4.90.

Bit Digital (NASDAQ:BTBT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). Bit Digital had a negative net margin of 52.86% and a negative return on equity of 9.90%. The company had revenue of $25.66 million for the quarter, compared to the consensus estimate of $27.46 million.

Hedge Funds Weigh In On Bit Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Trading LLC bought a new position in Bit Digital during the second quarter worth $25,000. Cerity Partners LLC bought a new position in Bit Digital during the first quarter worth $25,000. Stifel Financial Corp boosted its position in Bit Digital by 31.0% during the fourth quarter. Stifel Financial Corp now owns 14,027 shares of the company's stock worth $41,000 after purchasing an additional 3,320 shares during the period. Bank of Montreal Can bought a new position in Bit Digital during the fourth quarter worth $43,000. Finally, Advance Capital Management Inc. bought a new position in Bit Digital during the first quarter worth $31,000. 47.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Bit Digital

In related news, CEO Samir Tabar acquired 750,000 shares of Bit Digital stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of $2.00 per share, with a total value of $1,500,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,108,089 shares in the company, valued at $4,216,178. This trade represents a 55.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brock Jeffrey Pierce acquired 500,000 shares of Bit Digital stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the director owned 500,000 shares of the company's stock, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

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.