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Can Bit Digital Inc. (NASDAQ: BTBT) Still Be Considered A Loss When It’s Up 318.33% YTD?

During the last session, Bit Digital Inc. (NASDAQ:BTBT)’s traded shares were 1.86 million, with the beta value of the company hitting 5.65. At the end of the trading day, the stock’s price was $2.51, reflecting an intraday gain of 0.80% or $0.02. The 52-week high for the BTBT share is $2.69, that puts it down -7.17 from that peak though still a striking 78.88% gain since the share price plummeted to a 52-week low of $0.53. The company’s market capitalization is $216.89M, and the average intraday trading volume over the past 10 days was 2.43 million shares, and the average trade volume was 2.53 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 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 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 -$0.15.

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Bit Digital Inc. (NASDAQ:BTBT) trade information

Bit Digital Inc. (BTBT) registered a 0.80% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.80% in intraday trading to $2.51 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 5.91%, and it has moved by 52.12% in 30 days. Based on these gigs, the overall price performance for the year is 54.94%. The short interest in Bit Digital Inc. (NASDAQ:BTBT) is 10.13 million shares and it means that shorts have 3.32 day(s) to cover.

The consensus price target of analysts on Wall Street is $3.40, which implies an increase of 26.18% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $3.80 respectively. As a result, BTBT is trading at a discount of -51.39% off the target high and -19.52% 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 up 186.73% during the last six months, with a year-to-date growth rate more than the industry average at 64.18% against 18.80. In the rating firms’ projections, revenue will increase 40.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $7.75 million as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $10.2 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.57 million and $6.82 million respectively. In this case, analysts expect current quarter sales to shrink by -9.60% and then jump by 49.70% in the coming quarter.

While earnings are projected to return 10.00% in 2023.

BTBT Dividends

Bit Digital Inc. is due to release its next quarterly earnings between May 03 and May 14. 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 0.78% of total outstanding shares while institutional holders control 17.10%, with the float percentage being 17.23%. Mirae Asset Global Investments Co., Ltd. is the largest shareholder of the company, while 62 institutions own stock in it. As of Mar 30, 2023, the company held over 1.94 million shares (or 2.35% of all shares), a total value of $2.99 million in shares.

The next largest institutional holding, with 1.6 million shares, is of Van Eck Associates Corporation’s that is approximately 1.94% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $2.46 million.

Also, the Mutual Funds coming in first place with the largest holdings of Bit Digital Inc. (BTBT) shares are Global X Fds-Global X Blockchain ETF and Exchange Traded Concepts Tr-Bitwise Crypto Industry Innovators ETF. Data provided on Mar 30, 2023 indicates that Global X Fds-Global X Blockchain ETF owns about 1.78 million shares. This amounts to just over 2.16 percent of the company’s overall shares, with a $2.74 million market value. The same data shows that the other fund manager holds slightly less at 1.2 million, or about 1.46% of the stock, which is worth about $0.72 million.

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