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Bit Digital, Inc. (BTBT) Stock Sinks As Market Gains: What You Should Know
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Bit Digital, Inc. (BTBT - Free Report) closed the most recent trading day at $3.10, moving -1.59% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq increased by 0.51%.
Prior to today's trading, shares of the company had lost 10.77% over the past month. This has lagged the Business Services sector's loss of 1.9% and the S&P 500's loss of 4.45% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. On that day, Bit Digital, Inc. is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.84 million, up 207.91% from the year-ago period.
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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, there's been a 200% fall in the Zacks Consensus EPS estimate. Right now, Bit Digital, Inc. possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Bit Digital, Inc. is at present trading with a Forward P/E ratio of 8.22. This denotes a discount relative to the industry's average Forward P/E of 22.13.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bit Digital, Inc. (BTBT) Stock Sinks As Market Gains: What You Should Know
Bit Digital, Inc. (BTBT - Free Report) closed the most recent trading day at $3.10, moving -1.59% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.47% for the day. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq increased by 0.51%.
Prior to today's trading, shares of the company had lost 10.77% over the past month. This has lagged the Business Services sector's loss of 1.9% and the S&P 500's loss of 4.45% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. On that day, Bit Digital, Inc. is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 250%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.84 million, up 207.91% from the year-ago period.
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.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, there's been a 200% fall in the Zacks Consensus EPS estimate. Right now, Bit Digital, Inc. possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Bit Digital, Inc. is at present trading with a Forward P/E ratio of 8.22. This denotes a discount relative to the industry's average Forward P/E of 22.13.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.