Yahoo Finance Bit Digital, Inc. (BTBT) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Bit Digital, Inc. (BTBT) standing at $3.33, reflecting a -1.91% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.49%.
Prior to today's trading, shares of the company had gained 34.19% over the past month. This has outpaced the Business Services sector's gain of 1.2% and the S&P 500's gain of 3.22% in that time.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. In that report, analysts expect Bit Digital, Inc. to post earnings of $0.03 per share. This would mark year-over-year growth of 50%. In the meantime, our current consensus estimate forecasts the revenue to be $30.59 million, indicating a 238.41% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.43 per share and revenue of $122.1 million, which would represent changes of +368.75% and +171.83%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Bit Digital, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Bit Digital, Inc. is holding a Forward P/E ratio of 7.83. This signifies a discount in comparison to the average Forward P/E of 22.48 for its industry.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Bit Digital, Inc. (BTBT) : Free Stock Analysis Report
