In today’s recent session, 5.12 million shares of the Bit Digital Inc (NASDAQ:BTBT) were traded. Most recently the company’s share price was $4.45, and it changed around $0.14 or 3.14% from the last close, which brings the market valuation of the company to $656.96M. BTBT at last check was trading at a discount to its 52-week high of $5.27, offering almost -18.43% off that amount. The share price’s 52-week low was $1.76, which indicates that the recent value has risen by an impressive 60.45% since then. We note from Bit Digital Inc’s average daily trading volume that its 10-day average is 12.5 million shares, with the 3-month average coming to 10.01 million.
Bit Digital Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended BTBT as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Bit Digital Inc is expected to report earnings per share of -0.02 for the current quarter.
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Bit Digital Inc (NASDAQ:BTBT) trade information
Instantly BTBT has been showing a green trend so far today with a performance of 3.14% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.49 on recent trading dayincreased the stock’s daily price by 0.89%. The company’s shares are currently up 5.09% year-to-date, but still up 11.13% over the last five days. On the other hand, Bit Digital Inc (NASDAQ:BTBT) is 26.64% up in the 30-day period. We can see from the shorts that 26.48 million shares have been sold at a short interest cover period of 3.14 day(s).
The consensus price target as assigned by Wall Street analysts is $6.5, which translates to bulls needing to increase their stock price by 31.54% from its current value. Analyst projections state that BTBT is forecast to be at a low of $6 and a high of $7.
Bit Digital Inc (BTBT) estimates and forecasts
Bit Digital Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 118.44 percent over the past six months and at a 262.50% annual growth rate that is well above the industry average of 18.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 75.00% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 163.60%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 25.93M in revenue for the current quarter. 5 analysts expect Bit Digital Inc to make 33.22M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 11.56M and 16.05M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 124.30%. Forecasts for the next quarter put sales growth at 106.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 7.79%.
BTBT Dividends
Bit Digital Inc’s next quarterly earnings report is expected to be released on 2024-Nov-12.
Bit Digital Inc (NASDAQ:BTBT)’s Major holders
INVESCO LTD., with 8.3001% or 9.51 million shares worth $30.25 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024. The former held 3.32 shares worth $14.72 million, making up 4.02% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.18 shares worth around $14.1 million, which represents about 3.85% of the total shares outstanding.
