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Bit Digital, Inc. (BTBT) Stock Moves -0.55%: What You Should Know
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Bit Digital, Inc. (BTBT - Free Report) closed the most recent trading day at $1.81, moving -0.55% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.
Heading into today, shares of the company had lost 14.95% over the past month, lagging the Business Services sector's loss of 4.36% and the S&P 500's loss of 1.09% in that time.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0.01, showcasing a 133.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $25.61 million, up 209.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and revenue of $97.66 million, which would represent changes of +112.5% and +117.43%, respectively, from the prior year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 110.55% higher. At present, Bit Digital, Inc. boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Bit Digital, Inc. is presently being traded at a Forward P/E ratio of 80.89. This indicates a premium in contrast to its industry's Forward P/E of 22.36.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Bit Digital, Inc. (BTBT) Stock Moves -0.55%: What You Should Know
Bit Digital, Inc. (BTBT - Free Report) closed the most recent trading day at $1.81, moving -0.55% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.
Heading into today, shares of the company had lost 14.95% over the past month, lagging the Business Services sector's loss of 4.36% and the S&P 500's loss of 1.09% in that time.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $0.01, showcasing a 133.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $25.61 million, up 209.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.02 per share and revenue of $97.66 million, which would represent changes of +112.5% and +117.43%, respectively, from the prior year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 110.55% higher. At present, Bit Digital, Inc. boasts a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Bit Digital, Inc. is presently being traded at a Forward P/E ratio of 80.89. This indicates a premium in contrast to its industry's Forward P/E of 22.36.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.