Bit Digital Inc. (NASDAQ:BTBT) currently has a daily average trading volume of 2.54M but it saw 2651342 shares traded on Thursday. With a market cap of 215.16M USD, stock’s current market price of $2.49 came falling about -0.80 while comparing to the previous closing price of $2.51. In past 52 weeks, the stock remained buoying in the range of price level as high as $2.69 and as low as $0.53. In the recent trading on the day, stock has struck highest price mark of $2.63 while lowest mark touched by it was $2.38.
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Taking a look at 20-day trading activity of Bit Digital Inc. (BTBT) gives us an average price of $2.25, while its current price level is -7.43% below from 52-week high level whereas it is 369.72% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $1.87 while that of 200 days or SMA-200 reads an average of $1.35. A closer look into the stock’s movement over the week reveals that its volatility is standing at 9.35% during that period while stretching the period over a month that increases to 10.01%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 63.09 which implies that the stock is in neutral territory.
Bit Digital Inc. (BTBT)’s stock is currently under the radar of 2 analysts who are in consensus at a 12-month price target range of between $3.00 and $3.80 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $3.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $3.80. Average price target assigned by them is $3.40 which highlights an upside potential of 26.76% for the stock over that period. And to attain the median price target of $3.40 assigned by those analysts, stock has to add about 26.76% of value to its current levels.
Data by FactSet Research shows that 2 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 2 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, BTBT’s stock price is moving 1.63% up while it is 40.68% when we observe its performance for the past one month. Year-to-date it is 315.00% up and over the past year, the stock is showing an upside performance of 68.24%.
The latest quarterly earnings report issued by the company was for quarter ended 12/30/2022, when its quarterly earnings per share (EPS) of -$0.16 beaten by the consensus estimate of -$0.11 for the same. The company is expected to be releasing its next quarterly report in 08/30/2023, for which analysts forecasted an EPS of -$0.13 while estimate for next year EPS is -$0.47. Moreover, analysts are in estimates of $7.75 million for current-quarter revenue.
Currently, Bit Digital Inc.’s total number of outstanding shares is 82.57M with 0.78% of that held by the insiders while 17.10% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -131.90% and return on equity (ROE) at -77.20%. Stock’s beta reads 5.65. Stock has a price to book (P/B) ratio of 2.54 while price to sale or P/S ratio amounts to 6.66. Its return on asset (ROA) is -68.60% on average.
As per SEC documents, Global X Blockchain ETF sought 1,815,904 of company’s common stock of worth $3.6 million as per recent closing price of the stock. Global X Blockchain ETF is not the only institutional holder which restructured its stake in Bit Digital Inc., as Bitwise Crypto Industry Innovator picked 1,284,853 shares of worth $2.54 million to bring its holdings to a total of 12036.0 shares. In the most recent quarter, VanEck UCITS ETFs Plc – Crypto & came rising its stake by 1.63% in the company and now holds 0.84 million or 1.01% of the company’s stake having worth of about 1.66 million.
