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Bit Digital, Inc. (BTBT) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $3.53, marking a -0.7% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 1.28%.
Coming into today, shares of the company had gained 4.72% in the past month. In that same time, the Business Services sector lost 0.49%, while the S&P 500 gained 0.1%.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.03, signifying a 250% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $27.84 million, showing a 207.91% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $123.73 million. These totals would mark changes of +337.5% and +175.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 150% fall in the Zacks Consensus EPS estimate. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, Bit Digital, Inc. currently has a Forward P/E ratio of 9.26. This denotes a discount relative to the industry's average Forward P/E of 23.45.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $3.53, marking a -0.7% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 1.28%.
Coming into today, shares of the company had gained 4.72% in the past month. In that same time, the Business Services sector lost 0.49%, while the S&P 500 gained 0.1%.
The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.03, signifying a 250% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $27.84 million, showing a 207.91% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.38 per share and revenue of $123.73 million. These totals would mark changes of +337.5% and +175.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 150% fall in the Zacks Consensus EPS estimate. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, Bit Digital, Inc. currently has a Forward P/E ratio of 9.26. This denotes a discount relative to the industry's average Forward P/E of 23.45.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.