Bit Digital Inc. (NASDAQ:BTBT) shares, rose in value on Thursday, 05/12/22, with the stock price up by 8.11% to the previous day’s close as strong demand from buyers drove the stock to $1.60.
Actively observing the price movement in the last trading, the stock closed the session at $1.48, falling within a range of $1.38 and $1.67. The value of beta (5-year monthly) was 5.20 whereas the PE ratio was 7.66 over 12-month period. Referring to stock’s 52-week performance, its high was $20.74, and the low was $1.48. On the whole, BTBT has fluctuated by -43.26% over the past month.
With the market capitalization of Bit Digital Inc. currently standing at about $121.74 million, investors are eagerly awaiting this quarter’s results, scheduled for Dec 23, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.24, which is expected to increase to $0 for fiscal year $1.25 and then to about $0.75 by fiscal year 2022.
Analysts have estimated the company’s revenue for the quarter at $29.8 million, with a low estimate of $29.8 million and a high estimate of $29.8 million.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BTBT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BTBT currently trading nearly -27.72% and -45.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 29.85, while the 7-day volatility ratio is showing 13.31% which for the 30-day chart, stands at 10.48%. Furthermore, Bit Digital Inc. (BTBT)’s beta value is 6.85, and its average true range (ATR) is 0.23.
Data on historical trading for Bit Digital Inc. (NASDAQ:BTBT) indicates that the trading volumes over the past 10 days have averaged 3.56 million and over the past 3 months, they’ve averaged 3.49 million. According to company’s latest data on outstanding shares, there are 69.00 million shares outstanding.
Nearly 16.37% of Bit Digital Inc.’s shares belong to company insiders and institutional investors own 33.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.73 million shares as on Dec 14, 2021, resulting in a short ratio of 3.2. According to the data, the short interest in Bit Digital Inc. (BTBT) stood at 11.15% of shares outstanding as of Dec 14, 2021; the number of short shares registered in Nov 14, 2021 reached 9.15 million. The stock has fallen by -73.68% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BTBT stock heading into the next quarter.