Bit Digital Inc (NASDAQ:BTBT) traded at $3.37 at close of the session on Monday, November 04 and made a downward move of -5.34% on its previous day’s price.
Bit Digital Inc has a market cap of $465.38 million and is expected to release its quarterly earnings report in December. Estimates by analysts give the company expected earnings per share (EPS) of -0.02, with the EPS growth for the year raised at 0.29 for current year and 0.29 for next year.
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Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 25.93M, with a low of 22.7M and a high of 32.2M. The median projection represents growth squeezing down to 124.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 118.41M, or 163.60% up from figures reported last year.
On the other hand, looking at the outlook for the BTBT stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 75% Buy.
Based on estimates by 5 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Bit Digital Inc (BTBT) stock as a Hold, while 5 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is -9.54% off its SMA20 and -0.10% from its 50-day simple moving average. The RSI (14) is pointing at 43.30 while the volatility over the past week is 9.07% and jumps to 7.82% over the past one month. The average price target for the stock over the next 12 months is $6.5, with the estimates having a low of $6 and a high of $7. These price ends are -78.04% and -107.72% off the current price level respectively, although investors could be excited at the prospect of a -92.88% if the BTBT share price touches on the median price of $6.5.
Coming back to Bit Digital Inc (NASDAQ:BTBT), we note that the average 3-month trading volume was 10.21 million, while that of the preceding 10-day period stands at 12.59 million. Current shares outstanding are 147.79 million.
The insiders hold 0.50% of the company’s shares while institutions hold 38.67%. The data shows that short shares as of 2024-10-15, stood at 26.48 million at a short ratio of 3.14. This represents a 1807.00 short interest in shares outstanding on 2024-10-15. Shares short rose in October from the previous month at 23.91 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -20.33% down in year-to-date price movement.
