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Bit Digital, Inc. (BTBT) Laps the Stock Market: Here's Why
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Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $3.95, demonstrating a +1.41% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The company's stock has climbed by 47.35% in the past month, exceeding the Business Services sector's loss of 3.28% and the S&P 500's gain of 0.43%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0, down 100% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $27.84 million, indicating a 207.91% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.38 per share and a revenue of $123.73 million, indicating changes of +337.5% and +175.45%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 150% lower. Bit Digital, Inc. is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Bit Digital, Inc. is presently trading at a Forward P/E ratio of 10.15. This indicates a discount in contrast to its industry's Forward P/E of 23.07.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Bit Digital, Inc. (BTBT) Laps the Stock Market: Here's Why
Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $3.95, demonstrating a +1.41% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The company's stock has climbed by 47.35% in the past month, exceeding the Business Services sector's loss of 3.28% and the S&P 500's gain of 0.43%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0, down 100% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $27.84 million, indicating a 207.91% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.38 per share and a revenue of $123.73 million, indicating changes of +337.5% and +175.45%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 150% lower. Bit Digital, Inc. is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Bit Digital, Inc. is presently trading at a Forward P/E ratio of 10.15. This indicates a discount in contrast to its industry's Forward P/E of 23.07.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.