In the latest trading session, 4.96 million Bit Digital Inc (NASDAQ:BTBT) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $3.17 changed hands at -$0.2 or -5.79% at last look, the market valuation stands at $487.40M. BTBT’s current price is a discount, trading about -81.07% off its 52-week high of $5.74. The share price had its 52-week low at $1.76, which suggests the last value was 44.48% up since then. When we look at Bit Digital Inc’s average trading volume, we note the 10-day average is 14.83 million shares, with the 3-month average coming to 18.21 million.
Analysts gave the Bit Digital Inc (BTBT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended BTBT as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Bit Digital Inc’s EPS for the current quarter is expected to be -0.03.
Bit Digital Inc (NASDAQ:BTBT) trade information
Instantly BTBT was in red as seen in intraday trades today. With action -13.96%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 8.36%, with the 5-day performance at -13.96% in the red. However, in the 30-day time frame, Bit Digital Inc (NASDAQ:BTBT) is -26.33% down. Looking at the short shares, we see there were 25.69 million shares sold at short interest cover period of 2.64 days.
The consensus price target for the stock as assigned by Wall Street analysts is 6.5, meaning bulls need an upside of 51.23% from its recent market value. According to analyst projections, BTBT’s forecast low is 6 with 7 as the target high. To hit the forecast high, the stock’s price needs a -120.82% plunge from its current level, while the stock would need to soar -89.27% for it to hit the projected low.
Bit Digital Inc (BTBT) estimates and forecasts
Data shows that the Bit Digital Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.45% over the past 6 months, a 75.00% in annual growth rate that is considerably higher than the industry average of 16.10%. Year-over-year growth is forecast to reach 137.55% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of 24.75M. 2 analysts are of the opinion that Bit Digital Inc’s revenue for the current quarter will be 34.31M. The company’s revenue for the corresponding quarters a year ago was 16.05M and 30.3M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 54.17%. The estimates for the next quarter sales put growth at 13.24%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.79%. The 2025 estimates are for Bit Digital Inc earnings to decrease by -136.67%.
BTBT Dividends
Bit Digital Inc is expected to release its next quarterly earnings report in February.
Bit Digital Inc (NASDAQ:BTBT)’s Major holders
INVESCO LTD. holds the second largest percentage of outstanding shares, with 8.3001% or 9.51 million shares worth $30.25 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and iShares Russell 2000 ETF. With 3.32 shares estimated at $10.5 million under it, the former controlled 4.03% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 3.81% of the shares, roughly 3.14 shares worth around $9.94 million.
