What Will Bit Digital Inc. (NASDAQ: BTBT) Be Like After It Drops -1196.25% From Its Highs? – Marketing Sentinel
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What Will Bit Digital Inc. (NASDAQ: BTBT) Be Like After It Drops -1196.25% From Its Highs?

During the last session, Bit Digital Inc. (NASDAQ:BTBT)’s traded shares were 1.92 million, with the beta value of the company hitting 6.38. At the end of the trading day, the stock’s price was $1.60, reflecting an intraday gain of 2.56% or $0.04. The 52-week high for the BTBT share is $20.74, that puts it down -1196.25 from that peak though still a striking 25.63% gain since the share price plummeted to a 52-week low of $1.19. The company’s market capitalization is $144.22M, and the average intraday trading volume over the past 10 days was 4.05 million shares, and the average trade volume was 2.72 million shares over the past three months.

Bit Digital Inc. (BTBT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. BTBT has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.01.

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Bit Digital Inc. (NASDAQ:BTBT) trade information

Bit Digital Inc. (BTBT) registered a 2.56% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.56% in intraday trading to $1.60 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 5.26%, and it has moved by 6.67% in 30 days. Based on these gigs, the overall price performance for the year is -84.00%. The short interest in Bit Digital Inc. (NASDAQ:BTBT) is 6.86 million shares and it means that shorts have 3.74 day(s) to cover.

The consensus price target of analysts on Wall Street is $4.00, which implies an increase of 60.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.00 and $4.00 respectively. As a result, BTBT is trading at a discount of -150.0% off the target high and -150.0% off the low.

Bit Digital Inc. (BTBT) estimates and forecasts

Statistics show that Bit Digital Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Bit Digital Inc. (BTBT) shares have gone down -59.49% during the last six months, with a year-to-date growth rate more than the industry average at 87.50% against 12.60. In the rating firms’ projections, revenue will decrease -24.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $14.3 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $21.1 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 50.20%. While earnings are projected to return 34.40% in 2022.

BTBT Dividends

Bit Digital Inc. is due to release its next quarterly earnings on December 23. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Bit Digital Inc. insiders own 8.40% of total outstanding shares while institutional holders control 15.72%, with the float percentage being 17.16%. Invesco Ltd. is the largest shareholder of the company, while 80 institutions own stock in it. As of Mar 30, 2022, the company held over 3.03 million shares (or 3.76% of all shares), a total value of $10.89 million in shares.

The next largest institutional holding, with 1.71 million shares, is of Exchange Traded Concepts LLC’s that is approximately 2.13% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $2.24 million.

Also, the Mutual Funds coming in first place with the largest holdings of Bit Digital Inc. (BTBT) shares are iShares Core MSCI Emerging Markets ETF and Global X Fds-Global X Blockchain ETF. Data provided on Apr 29, 2022 indicates that iShares Core MSCI Emerging Markets ETF owns about 0.55 million shares. This amounts to just over 0.68 percent of the company’s overall shares, with a $1.12 million market value. The same data shows that the other fund manager holds slightly less at 0.52 million, or about 0.65% of the stock, which is worth about $0.69 million.

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