The trading price of Bit Digital Inc (NASDAQ:BTBT) closed lower on Monday, November 18, and closing at $4.02, -5.85% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $3.7 and $4.2599. The company’s P/E ratio in the trailing 12-month period was 16.73, while its 5Y monthly beta was 4.805. In examining the 52-week price action we see that the stock hit a 52-week high of $5.74 and a 52-week low of $1.76. Over the past month, the stock has lost -0.74% in value.
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Bit Digital Inc, whose market valuation is $579.20 million at the time of this writing, is expected to release its quarterly earnings report in December. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.05 per share this quarter, however they have predicted annual earnings per share of 0.3 for current year and 0.34 for next year.
Analysts have forecast the company to bring in revenue of 21.97M for the current quarter, with the likely lows of 21.97M and highs of 21.97M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 101.17M.
On the technical side, indicators suggest BTBT has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned BTBT a recommendation rating is 5. Out of them, 0 rate it a Hold, while 5 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Bit Digital Inc (BTBT) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that BTBT’s price is currently -4.03% off the SMA20 and 10.16% off the SMA50. The RSI metric on the 14-day chart is currently showing 49.12, and weekly volatility stands at 13.70%. When measured over the past 30 days, the indicator reaches 9.58%. Bit Digital Inc (NASDAQ:BTBT)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.45. With analysts defining $6-$7 as the low and high price targets, we arrive at a consensus price target of $6.5 for the trailing 12-month period. The current price is about -49.25% off the estimated low and -74.13% off the forecast high, based on this estimate. Investors will be thrilled if BTBT’s share price rises to $6.5, which is the median consensus price. At that level, BTBT’s share price would be -61.69% below current price.
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 -5.85% in the latest trading, and 94.20% in the past year. Bit Digital Inc has a P/E ratio of 16.73.
An evaluation of the daily trading volume of Bit Digital Inc (NASDAQ:BTBT) indicates that the 3-month average is 12.09 million. However, this figure has increased over the past 10 days to an average of 24.64.
Currently, records show that 147.79 million of the company’s shares remain outstanding. The insiders hold 0.50% of outstanding shares, whereas institutions hold 37.21%. The stats also highlight that short interest as of 2024-10-31, stood at 25.69 million shares, resulting in a short ratio of 2.64 at that time. From this, we can conclude that short interest is 1754.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were down slightly from the previous month’s figure, which was 25.94 million. However, since the stock’s price has seen -4.96% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
