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Bit Digital, Inc. (BTBT) Suffers a Larger Drop Than the General Market: Key Insights
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Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $2.95, demonstrating a -14.24% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.08%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.35%.
Prior to today's trading, shares of the company had lost 4.18% lagged the Business Services sector's loss of 3.73% and the S&P 500's gain of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.03, indicating a 200% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $25.35 million, down 12.44% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.31 per share and a revenue of $121.9 million, indicating changes of -10.71% and +12.82%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.53% higher within the past month. Bit Digital, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Bit Digital, Inc. (BTBT) Suffers a Larger Drop Than the General Market: Key Insights
Bit Digital, Inc. (BTBT - Free Report) ended the recent trading session at $2.95, demonstrating a -14.24% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.08%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.35%.
Prior to today's trading, shares of the company had lost 4.18% lagged the Business Services sector's loss of 3.73% and the S&P 500's gain of 1.21%.
Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.03, indicating a 200% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $25.35 million, down 12.44% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.31 per share and a revenue of $121.9 million, indicating changes of -10.71% and +12.82%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 10.53% higher within the past month. Bit Digital, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 93, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.