Northland Securities Forecasts Bit Digital Q2 Earnings

Bit Digital, Inc. (NASDAQ:BTBT) – Investment analysts at Northland Securities lowered their Q2 2026 EPS estimates for Bit Digital in a research note issued on Friday, May 15th. Northland Securities analyst M. Grondahl now forecasts that the company will earn ($0.05) per share for the quarter, down from their previous forecast of ($0.04). The consensus estimate for Bit Digital’s current full-year earnings is ($0.12) per share. Northland Securities also issued estimates for Bit Digital’s Q3 2026 earnings at ($0.02) EPS and FY2026 earnings at ($0.53) EPS.

Bit Digital (NASDAQ:BTBT) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.41). The firm had revenue of $27.92 million for the quarter, compared to analyst estimates of $25.73 million. Bit Digital had a negative return on equity of 5.39% and a negative net margin of 70.70%.

Several other research firms have also issued reports on BTBT. Wall Street Zen lowered Bit Digital from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Zacks Research cut shares of Bit Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, April 6th. Weiss Ratings lowered shares of Bit Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Bit Digital in a research note on Thursday, April 2nd. Finally, B. Riley Financial restated a “buy” rating on shares of Bit Digital in a research note on Monday. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.67.

Bit Digital Stock Performance

Shares of Bit Digital stock opened at $1.73 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.39 and a quick ratio of 6.39. The firm has a market cap of $604.10 million, a P/E ratio of -3.15 and a beta of 3.95. The firm has a 50 day simple moving average of $1.59 and a 200 day simple moving average of $1.98. Bit Digital has a fifty-two week low of $1.25 and a fifty-two week high of $4.55.

Hedge Funds Weigh In On Bit Digital

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its position in Bit Digital by 815.3% in the 1st quarter. AQR Capital Management LLC now owns 202,648 shares of the company’s stock worth $409,000 after purchasing an additional 180,509 shares in the last quarter. Millennium Management LLC boosted its holdings in Bit Digital by 62.6% in the 1st quarter. Millennium Management LLC now owns 2,337,217 shares of the company’s stock valued at $4,721,000 after purchasing an additional 899,967 shares during the period. JPMorgan Chase & Co. boosted its holdings in Bit Digital by 304.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 290,764 shares of the company’s stock valued at $637,000 after purchasing an additional 218,789 shares during the period. Legal & General Group Plc boosted its holdings in Bit Digital by 60.2% in the 2nd quarter. Legal & General Group Plc now owns 16,508 shares of the company’s stock valued at $36,000 after purchasing an additional 6,206 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Bit Digital by 62.4% in the 2nd quarter. Rhumbline Advisers now owns 258,938 shares of the company’s stock valued at $567,000 after purchasing an additional 99,490 shares during the period. Institutional investors and hedge funds own 47.70% of the company’s stock.

Bit Digital Company Profile

Bit Digital, Inc (NASDAQ: BTBT) is a publicly traded digital asset mining company that specializes in the proof-of-work mining of Bitcoin. Incorporated in Nevada and headquartered in New York City, Bit Digital develops, owns and manages a fleet of high-efficiency ASIC miners, with the primary aim of generating newly minted Bitcoin through computational work. The company’s revenue is derived solely from its mining operations and any resulting cryptocurrency holdings.

To support its mining activities, Bit Digital maintains multiple data center facilities across North America.