Research Analysts Offer Predictions for Bit Digital, Inc.’s Q1 2024 Earnings (NASDAQ:BTBT)

Bit Digital, Inc. (NASDAQ:BTBT) – Equities research analysts at Singular Research issued their Q1 2024 EPS estimates for shares of Bit Digital in a report issued on Wednesday, March 27th. Singular Research analyst E. Engel forecasts that the company will post earnings of $0.06 per share for the quarter. The consensus estimate for Bit Digital’s current full-year earnings is ($0.04) per share. Singular Research also issued estimates for Bit Digital’s Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.03 EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.29 EPS.

A number of other equities analysts have also recently commented on the stock. Northland Securities initiated coverage on shares of Bit Digital in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $6.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Bit Digital in a research note on Wednesday, March 20th.

Bit Digital Price Performance

BTBT stock opened at $2.87 on Friday. Bit Digital has a one year low of $1.36 and a one year high of $5.27. The firm has a 50 day simple moving average of $2.63 and a two-hundred day simple moving average of $2.65.

Institutional Investors Weigh In On Bit Digital

A number of institutional investors have recently made changes to their positions in BTBT. Nomura Holdings Inc. bought a new stake in Bit Digital during the 4th quarter valued at $1,583,000. Quadrature Capital Ltd raised its holdings in Bit Digital by 37.5% in the 4th quarter. Quadrature Capital Ltd now owns 518,035 shares of the company’s stock worth $2,194,000 after purchasing an additional 141,368 shares in the last quarter. Vanguard Group Inc. raised its holdings in Bit Digital by 24.3% in the 4th quarter. Vanguard Group Inc. now owns 621,839 shares of the company’s stock worth $2,630,000 after purchasing an additional 121,458 shares in the last quarter. Vima LLC bought a new position in Bit Digital in the 4th quarter worth $118,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Bit Digital by 254.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 430,481 shares of the company’s stock worth $1,821,000 after buying an additional 309,163 shares during the period. Hedge funds and other institutional investors own 47.70% of the company’s stock.

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.