Bit Digital Inc. (NASDAQ:BTBT) does about 1.60M shares in volume on a normal day but saw 4667027 shares change hands in Monday trading. The company now has a market cap of 112.48M USD. Its current market price is $1.42, marking an increase of 12.70% compared to the previous close of $1.26. The 52 week high reached by this stock is $5.35 whilst the lowest price level in 52 weeks is $0.53. The script in recent trading has seen the stock touch a high of $1.4327 and a low of $1.26.
Bit Digital Inc. (BTBT) has a 20-day trading average at $0.9032 and the current price is -73.46% off the 52-week high compared with 167.87% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.8783 and its 200-day simple moving average is $1.4164. If we look at the stock’s price movements over the week, volatility stands at 13.49%, which increases to 14.60% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 72.19 to suggest the stock is overbought.
1 analysts observing the Bit Digital Inc. (BTBT) stock have set the 12-month price targets for the company’s shares at between $2.00 and $2.00. The consensus objective for the share price is $2.00, suggesting that the stock has a potential upside of 29.0% over the period. The median price target is 29.0% away from the current levels at $2.00.
FactSet Research has provided data showing that 1 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 23, 2021 when H.C. Wainwright initiated the stock to “Buy” and issued a price target of $14.
The current price level is 64.87%, 63.05%, and -0.44% away from its SMA20, SMA50, and SMA200 respectively, with the BTBT price moving below the 50-day SMA on January 23. Bit Digital Inc. (BTBT) stock is up 20.34% over the week and 150.00% over the past month. Its price is 136.67% year-to-date and -72.32% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.17 below consensus estimates by -$0.11. The company’s next earnings report is expected on 04/27/2023, with forecasts estimating quarterly EPS at -$0.13 and -$0.68 for whole year. BTBT’s earnings per share are forecast to shrink by -6,900.00% this year and 29.40% over next year. In addition, estimates put the company’s current quarterly revenue at an average of $7.9 million.
Its 12-month price target is $2.00. To reach the target analysts have set, the stock logically needs to grow 29.0 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $2.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $2.00.
Outstanding shares total 83.33M with insiders holding 0.78% of the shares and institutional holders owning 12.71% of the company’s common stock. The company has a return on investment of 0.10% and return on equity of -33.20%. The beta has a value of 5.38. Price to book ratio is 0.79 and price to sales ratio is 2.97.