Bit Digital Inc (NASDAQ:BTBT) price on Thursday, December 26, remained unchanged to $3.33.
A look at the stock’s price movement, the close in the last trading session was $3.33, moving within a range at $3.22 and $3.42. The beta value (5-Year monthly) was 4.805 while the PE ratio in trailing twelve months stood at 53.88. Turning to its 52-week performance, $5.74 and $1.76 were the 52-week high and 52-week low respectively. Overall, BTBT moved -21.65% over the past month.
Bit Digital Inc’s market cap currently stands at around $511.19 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 24.75M for the company’s revenue for the quarter, with a low and high estimate of 21.5M and 29.6M respectively. The average forecast suggests up to a 54.17% 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 106.7M, representing a 137.55% 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 25% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold 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 -19.49% and -19.55% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 39.38, while 7-day volatility ratio is 8.32% and 10.74% in the 30-day chart. Further, Bit Digital Inc (BTBT) has a beta value of 0, and an average true range (ATR) of 0.42. 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 -80.18% off current price level while to achieve the yearly target high, price needs to move -110.21%. Nonetheless, investors will most likely welcome a -95.2% 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 18.71 over the past 10 days and 16.59 million over the past 3 months. The company’s latest data on shares outstanding shows there are 153.51 million shares.
The 0.48% of Bit Digital Inc’s shares are in the hands of company insiders while institutional holders own 35.84% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 25.69 million on 2024-10-31, giving us a short ratio of 2.64. The data shows that as of 2024-10-31 short interest in Bit Digital Inc (BTBT) stood at 1754.0 of shares outstanding, with shares short falling to 25.94 million registered in 2024-09-30. Current price change has pushed the stock -21.28% 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.
