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Bit Digital, Inc. (BTBT) Declines More Than Market: Some Information for Investors
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Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $2.96, demonstrating a -1% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
Coming into today, shares of the company had gained 10.33% in the past month. In that same time, the Business Services sector gained 4%, while the S&P 500 gained 5.94%.
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, up 100% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $31.13 million, indicating a 169.3% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.32 per share and a revenue of $127.58 million, representing changes of +300% and +184.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Bit Digital, Inc. is currently trading at a Forward P/E ratio of 9.25. Its industry sports an average Forward P/E of 25.49, so one might conclude that Bit Digital, Inc. is trading at a discount comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
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) Declines More Than Market: Some Information for Investors
Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $2.96, demonstrating a -1% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
Coming into today, shares of the company had gained 10.33% in the past month. In that same time, the Business Services sector gained 4%, while the S&P 500 gained 5.94%.
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, up 100% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $31.13 million, indicating a 169.3% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.32 per share and a revenue of $127.58 million, representing changes of +300% and +184.03%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Bit Digital, Inc. is currently trading at a Forward P/E ratio of 9.25. Its industry sports an average Forward P/E of 25.49, so one might conclude that Bit Digital, Inc. is trading at a discount comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.