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Bit Digital, Inc. (BTBT) Advances While Market Declines: Some Information for Investors
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Bit Digital, Inc. (BTBT - Free Report) closed at $2.91 in the latest trading session, marking a +2.46% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.37%. Meanwhile, the Dow lost 0.74%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The stock of company has risen by 7.98% in the past month, leading the Business Services sector's loss of 1.44% and the S&P 500's gain of 2.68%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 200% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $25.35 million, indicating a 12.44% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $121.9 million. These totals would mark changes of -10.71% and +12.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.53% higher. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BTBT in the coming trading sessions, be sure to utilize Zacks.com.
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Bit Digital, Inc. (BTBT) Advances While Market Declines: Some Information for Investors
Bit Digital, Inc. (BTBT - Free Report) closed at $2.91 in the latest trading session, marking a +2.46% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.37%. Meanwhile, the Dow lost 0.74%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The stock of company has risen by 7.98% in the past month, leading the Business Services sector's loss of 1.44% and the S&P 500's gain of 2.68%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 200% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $25.35 million, indicating a 12.44% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.31 per share and revenue of $121.9 million. These totals would mark changes of -10.71% and +12.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.53% higher. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BTBT in the coming trading sessions, be sure to utilize Zacks.com.