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Bit Digital, Inc. (BTBT) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $3.04, marking a -3.18% move from the previous day. This change lagged the S&P 500's daily gain of 1.54%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 2.27%.
Prior to today's trading, shares of the company had lost 16.49% lagged the Business Services sector's loss of 6.8% and the S&P 500's gain of 0.29%.
The upcoming earnings release of Bit Digital, Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0, showcasing a 100% upward movement from the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.2 per share and a revenue of $114.89 million, indicating changes of +28.57% and +6.33%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.33% downward. Bit Digital, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 34% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Bit Digital, Inc. (BTBT) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Bit Digital, Inc. (BTBT - Free Report) closed at $3.04, marking a -3.18% move from the previous day. This change lagged the S&P 500's daily gain of 1.54%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 2.27%.
Prior to today's trading, shares of the company had lost 16.49% lagged the Business Services sector's loss of 6.8% and the S&P 500's gain of 0.29%.
The upcoming earnings release of Bit Digital, Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0, showcasing a 100% upward movement from the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.2 per share and a revenue of $114.89 million, indicating changes of +28.57% and +6.33%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.33% downward. Bit Digital, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 83, positioning it in the top 34% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.