Bit Digital Inc (NASDAQ:BTBT) traded at $3.69 at close of the session on Tuesday, January 24 and made an upward move of 1.10% on its previous day’s price.
Looking at the stock we see that its previous close was $3.65 and the beta (5Y monthly) reads 4.805 with the day’s price range being $3.64 – $3.89. The company has a trailing 12-month PE ratio of 59.71. In terms of its 52-week price range, BTBT has a high of $5.74 and a low of $1.76. The company’s stock has gained about 10.15% over that past 30 days.
Bit Digital Inc has a market cap of $566.45 million and is expected to release its quarterly earnings report in February.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 25M, with a low of 21.5M and a high of 29.6M. The median projection represents growth squeezing down to 55.74% 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 106.95M, or 138.11% 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 Hold, while medium term indicators assign it an average of 50% 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 6.71% off its SMA20 and -6.80% from its 50-day simple moving average. The RSI (14) is pointing at 51.02 while the volatility over the past week is 8.02% and jumps to 8.46% 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 -62.6% and -89.7% off the current price level respectively, although investors could be excited at the prospect of a -76.15% 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 19.06 million, while that of the preceding 10-day period stands at 16.46 million. Current shares outstanding are 153.51 million.
The insiders hold 2.18% of the company’s shares while institutions hold 36.17%. The data shows that short shares as of 2024-10-31, stood at 25.69 million at a short ratio of 2.64. This represents a 1754.00 short interest in shares outstanding on 2024-10-31. Shares short fall in October from the previous month at 25.94 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 25.94% up in year-to-date price movement.
