Bit Digital Inc. (NASDAQ: BTBT): Should Value Hunters Buy It? – Stocks Register
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Bit Digital Inc. (NASDAQ: BTBT): Should Value Hunters Buy It?

The trading price of Bit Digital Inc. (NASDAQ:BTBT) closed higher on Friday, August 06, closing at $17.55, 10.94% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $15.06 and $19.51. The company’s P/E ratio in the trailing 12-month period was 22.05, while its 5Y monthly beta was 4.64. In examining the 52-week price action we see that the stock hit a 52-week high of $33.00 and a 52-week low of $3.40. Over the past month, the stock has gained 222.02% in value.


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Bit Digital Inc., whose market valuation is $764.48 million at the time of this writing, is expected to release its quarterly earnings report Jul 13, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Bit Digital Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest BTBT has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that BTBT’s price is currently 146.94% off the SMA20 and 137.90% off the SMA50. The RSI metric on the 14-day chart is currently showing 79.21, and weekly volatility stands at 28.21%. When measured over the past 30 days, the indicator reaches 21.29%. Bit Digital Inc. (NASDAQ:BTBT)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 1.88.

To see how Bit Digital Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: BTBT stock’s performance was 10.94% in the latest trading, and 258.16% in the past year. Bit Digital Inc. has a P/E ratio of 22.05. Also in last trading session, the S&P 500 Index has surged 0.17%, while the Dow Jones Industrial also saw a positive session, up 0.41% on the day.

An evaluation of the daily trading volume of Bit Digital Inc. (NASDAQ:BTBT) indicates that the 3-month average is 13.71 million.

Currently, records show that 48.29 million of the company’s shares remain outstanding. The insiders hold 23.20% of outstanding shares, whereas institutions hold 5.50%. However, since the stock’s price has seen -19.90% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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