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Bit Digital, Inc. (BTBT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Bit Digital, Inc. (BTBT - Free Report) ending at $3.88, denoting a -0.26% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The company's stock has climbed by 35.54% in the past month, exceeding the Business Services sector's gain of 3.66% and the S&P 500's gain of 3.77%.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of $0, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $31.13 million, indicating a 169.3% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.32 per share and revenue of $120.95 million, indicating changes of +300% and +169.27%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Bit Digital, Inc. holds a Zacks Rank of #3 (Hold).
In the context of valuation, Bit Digital, Inc. is at present trading with a Forward P/E ratio of 12.03. This represents a discount compared to its industry's average Forward P/E of 25.74.
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 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.
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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Bit Digital, Inc. (BTBT - Free Report) ending at $3.88, denoting a -0.26% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The company's stock has climbed by 35.54% in the past month, exceeding the Business Services sector's gain of 3.66% and the S&P 500's gain of 3.77%.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of $0, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $31.13 million, indicating a 169.3% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.32 per share and revenue of $120.95 million, indicating changes of +300% and +169.27%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Bit Digital, Inc. holds a Zacks Rank of #3 (Hold).
In the context of valuation, Bit Digital, Inc. is at present trading with a Forward P/E ratio of 12.03. This represents a discount compared to its industry's average Forward P/E of 25.74.
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 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.