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Bit Digital, Inc. (BTBT) Trades Flat On The Day: What You Should Know
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In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $2.17, marking no change from the previous day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the company had lost 5.24% over the past month, lagging the Business Services sector's loss of 1.96% and the S&P 500's loss of 0.22% in that time.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. On that day, Bit Digital, Inc. is projected to report earnings of $0.01 per share, which would represent year-over-year growth of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.61 million, up 209.64% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.02 per share and a revenue of $97.66 million, indicating changes of +112.5% and +117.43%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bit Digital, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Bit Digital, Inc. is currently being traded at a Forward P/E ratio of 96.44. This valuation marks a premium compared to its industry's average Forward P/E of 23.9.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Bit Digital, Inc. (BTBT) Trades Flat On The Day: What You Should Know
In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $2.17, marking no change from the previous day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the company had lost 5.24% over the past month, lagging the Business Services sector's loss of 1.96% and the S&P 500's loss of 0.22% in that time.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. On that day, Bit Digital, Inc. is projected to report earnings of $0.01 per share, which would represent year-over-year growth of 133.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.61 million, up 209.64% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.02 per share and a revenue of $97.66 million, indicating changes of +112.5% and +117.43%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bit Digital, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Bit Digital, Inc. is currently being traded at a Forward P/E ratio of 96.44. This valuation marks a premium compared to its industry's average Forward P/E of 23.9.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.