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Bit Digital, Inc. (BTBT) Dips More Than Broader Market: What You Should Know
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Bit Digital, Inc. (BTBT - Free Report) closed the latest trading day at $3.64, indicating a -1.36% change from the previous session's end. This change lagged the S&P 500's 0.13% loss on the day. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.39%.
The the stock of company has risen by 14.24% in the past month, leading the Business Services sector's gain of 4.62% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. In that report, analysts expect Bit Digital, Inc. to post earnings of $0 per share. This would mark year-over-year growth of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $31.13 million, indicating a 169.3% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.32 per share and revenue of $127.58 million, which would represent changes of +300% and +184.03%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Bit Digital, Inc. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Bit Digital, Inc. is holding a Forward P/E ratio of 11.41. This indicates a discount in contrast to its industry's Forward P/E of 24.55.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
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.
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) Dips More Than Broader Market: What You Should Know
Bit Digital, Inc. (BTBT - Free Report) closed the latest trading day at $3.64, indicating a -1.36% change from the previous session's end. This change lagged the S&P 500's 0.13% loss on the day. On the other hand, the Dow registered a gain of 0.33%, and the technology-centric Nasdaq decreased by 0.39%.
The the stock of company has risen by 14.24% in the past month, leading the Business Services sector's gain of 4.62% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. In that report, analysts expect Bit Digital, Inc. to post earnings of $0 per share. This would mark year-over-year growth of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $31.13 million, indicating a 169.3% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.32 per share and revenue of $127.58 million, which would represent changes of +300% and +184.03%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Bit Digital, Inc. presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Bit Digital, Inc. is holding a Forward P/E ratio of 11.41. This indicates a discount in contrast to its industry's Forward P/E of 24.55.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 78, this industry ranks in the top 31% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.