We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bit Digital, Inc. (BTBT) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
The most recent trading session ended with Bit Digital, Inc. (BTBT - Free Report) standing at $4.24, reflecting a +0.95% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the company had gained 46.85% over the past month, outpacing the Business Services sector's gain of 2.71% and the S&P 500's gain of 3.82% in that time.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. In that report, analysts expect Bit Digital, Inc. to post earnings of $0 per share. This would mark a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $27.84 million, up 207.91% from the prior-year quarter.
BTBT's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $123.73 million. These results would represent year-over-year changes of +337.5% and +175.45%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 150% lower. Bit Digital, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bit Digital, Inc. is currently trading at a Forward P/E ratio of 10.96. This expresses a discount compared to the average Forward P/E of 23.15 of its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bit Digital, Inc. (BTBT) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Bit Digital, Inc. (BTBT - Free Report) standing at $4.24, reflecting a +0.95% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the company had gained 46.85% over the past month, outpacing the Business Services sector's gain of 2.71% and the S&P 500's gain of 3.82% in that time.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. In that report, analysts expect Bit Digital, Inc. to post earnings of $0 per share. This would mark a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $27.84 million, up 207.91% from the prior-year quarter.
BTBT's full-year Zacks Consensus Estimates are calling for earnings of $0.38 per share and revenue of $123.73 million. These results would represent year-over-year changes of +337.5% and +175.45%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 150% lower. Bit Digital, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bit Digital, Inc. is currently trading at a Forward P/E ratio of 10.96. This expresses a discount compared to the average Forward P/E of 23.15 of its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.