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

Bit Digital, Inc. (NASDAQ:BTBT) – Stock analysts at Singular Research issued their Q1 2024 earnings estimates for Bit Digital in a research note issued on Wednesday, March 27th. Singular Research analyst E. Engel expects that the company will post earnings per share of $0.06 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 weighed in on BTBT. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Bit Digital in a research report on Wednesday, March 20th. Northland Securities initiated coverage on shares of Bit Digital in a research report on Tuesday, February 13th. They set an “outperform” rating and a $6.00 price target on the stock.

Bit Digital Price Performance

Shares of NASDAQ BTBT opened at $2.87 on Friday. The company’s fifty day moving average is $2.63 and its 200-day moving average is $2.65. Bit Digital has a twelve month low of $1.36 and a twelve month high of $5.27.

Institutional Investors Weigh In On Bit Digital

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Bit Digital during the second quarter worth $33,000. HBW Advisory Services LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $42,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $42,000. Merit Financial Group LLC acquired a new stake in shares of Bit Digital during the fourth quarter worth $42,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Bit Digital during the fourth quarter worth $45,000. 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.