Bit Digital Inc (NASDAQ:BTBT) price on Friday, October 25, fall -1.75% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.93.
A look at the stock’s price movement, the close in the last trading session was $4.00, moving within a range at $3.87 and $4.16. The beta value (5-Year monthly) was 4.799 while the PE ratio in trailing twelve months stood at 16.35. Turning to its 52-week performance, $5.27 and $1.76 were the 52-week high and 52-week low respectively. Overall, BTBT moved 6.50% over the past month.
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Bit Digital Inc’s market cap currently stands at around $580.81 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-12.
Analysts have a consensus estimate of 25.93M for the company’s revenue for the quarter, with a low and high estimate of 22.7M and 32.2M respectively. The average forecast suggests up to a 124.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 118.41M, representing a 163.60% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BTBT is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend BTBT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BTBT’s current price about 11.08% and 18.47% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.66, while 7-day volatility ratio is 7.62% and 7.39% in the 30-day chart. Further, Bit Digital Inc (BTBT) has a beta value of 0, and an average true range (ATR) of 0.27. Analysts have given the company’s stock an average 52-week price target of $6.5, forecast between a low of $6 and high of $7. Looking at the price targets, the low is -52.67% off current price level while to achieve the yearly target high, price needs to move -78.12%. Nonetheless, investors will most likely welcome a -65.39% jump to $6.5 which is the analysts’ median price.
If we refocus on Bit Digital Inc (NASDAQ:BTBT), historical trading data shows that trading volumes averaged 11.03 over the past 10 days and 9.84 million over the past 3 months. The company’s latest data on shares outstanding shows there are 147.79 million shares.
The 0.50% of Bit Digital Inc’s shares are in the hands of company insiders while institutional holders own 37.95% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.94 million on 2024-09-30, giving us a short ratio of 2.95. The data shows that as of 2024-09-30 short interest in Bit Digital Inc (BTBT) stood at 1770.9999 of shares outstanding, with shares short rising to 20.26 million registered in 2024-08-30. Current price change has pushed the stock -7.09% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BTBT stock continues to rise going into the next quarter.
