Shares Of Bit Digital Inc (NASDAQ: BTBT) Declined -34.32% In One Month

Bit Digital Inc (NASDAQ:BTBT) has seen 9.23 million shares traded in the last trading session. The company, currently valued at $187.92M, closed the last trade at $2.21 per share which meant it gained $0.11 on the day or 5.24% during that session. The BTBT stock price is -138.46% off its 52-week high price of $5.27 and 49.32% above the 52-week low of $1.12. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.43 million shares traded. The 3-month trading volume is 9.67 million shares.

Bit Digital Inc (NASDAQ:BTBT) trade information

Sporting 5.24% in the green in last session, the stock has traded in the red over the last five days, when the BTBT stock price touched $2.21 or saw a rise of 13.33%. Year-to-date, Bit Digital Inc shares have moved -47.75%, while the 5-day performance has seen it change -10.53%. Over the past 30 days, the shares of Bit Digital Inc (NASDAQ:BTBT) have changed -34.32%. Short interest in the company has seen 16.12 million shares shorted with days to cover at 1.82.

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 -3.91% over the past 6 months, with this year growth rate of 85.07%, compared to 19.60% for the industry. Revenue growth from the last financial year stood is estimated to be 30.10%.

4 analysts offering their estimates for the company have set an average revenue estimate of $13.18 million for the current quarter. 2 have an estimated revenue figure of $22.23 million for the next quarter concluding in Mar 2024. Year-ago sales stood $7.78 million and $7.75 million respectively for this quarter and the next, and analysts expect sales will grow by 69.50% for the current quarter and 186.80% for the next.

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 -83.26% over the past 5 years.

BTBT Dividends

Bit Digital Inc is expected to release its next earnings report between April 26 and April 30 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 0.51% of the company shares, while shares held by institutions stand at 42.95% with a share float percentage of 43.17%. Investors are also buoyed by the number of investors in a company, with Bit Digital Inc having a total of 153 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 5.36 million shares worth more than $21.76 million. As of Jun 29, 2023, Blackrock Inc. held 6.50% of shares outstanding.

The other major institutional holder is State Street Corporation, with the holding of over 3.64 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $14.78 million and represent 4.41% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and iShares Russell 2000 ETF. As of Aug 30, 2023, the former fund manager holds about 2.63% shares in the company for having 2.17 million shares of worth $5.1 million while later fund manager owns 1.66 million shares of worth $3.91 million as of Aug 30, 2023, which makes it owner of about 2.02% of company’s outstanding stock.