Why Should We Buy Bit Digital Inc. (BTBT) Stock? – Marketing Sentinel
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Why Should We Buy Bit Digital Inc. (BTBT) Stock?

Bit Digital Inc. (NASDAQ:BTBT) has a beta value of 6.46 and has seen 1.59 million shares traded in the last trading session. The company, currently valued at $439.34M, closed the last trade at $1.48 per share which meant it lost -$0.09 on the day or -5.73% during that session. The BTBT stock price is -1301.35% off its 52-week high price of $20.74 and 19.59% above the 52-week low of $1.19. The 3-month trading volume is 2.91 million shares.

Bit Digital Inc. (NASDAQ:BTBT) trade information

Sporting -5.73% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 06/28/22 when the BTBT stock price touched $1.48 or saw a rise of 11.13%. Year-to-date, Bit Digital Inc. shares have moved -75.66%, while the 5-day performance has seen it change -1.99%. Over the past 30 days, the shares of Bit Digital Inc. (NASDAQ:BTBT) have changed -5.13%.

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Bit Digital Inc. (BTBT) estimates and forecasts

Figures show that Bit Digital Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -78.64% over the past 6 months, with this year growth rate of 87.50%, compared to 15.00% for the industry.

1 analysts offering their estimates for the company have set an average revenue estimate of $13.39 million for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 50.20% over the past 5 years.

BTBT Dividends

Bit Digital Inc. is expected to release its next earnings report on December 23 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Bit Digital Inc. (NASDAQ:BTBT)’s Major holders

Insiders own 2.19% of the company shares, while shares held by institutions stand at 7.24% with a share float percentage of 7.40%. Investors are also buoyed by the number of investors in a company, with Bit Digital Inc. having a total of 90 institutions that hold shares in the company. The top two institutional holders are Sabby Management, LLC with over 4.22 million shares worth more than $25.63 million. As of Dec 30, 2021, Sabby Management, LLC held 5.41% of shares outstanding.

The other major institutional holder is Armistice Capital, LLC, with the holding of over 4.22 million shares as of Dec 30, 2021. The firm’s total holdings are worth over $25.63 million and represent 5.41% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and iShares Core MSCI Emerging Markets ETF. As of Jan 30, 2022, the former fund manager holds about 0.89% shares in the company for having 0.69 million shares of worth $2.61 million while later fund manager owns 0.53 million shares of worth $2.08 million as of Feb 27, 2022, which makes it owner of about 0.68% of company’s outstanding stock.

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