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Bit Digital, Inc. (BTBT) Exceeds Market Returns: Some Facts to Consider
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In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was up +2.53% at $1.62. The stock's performance was ahead of the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq appreciated by 1.63%.
Coming into today, shares of the company had gained 9.72% in the past month. In that same time, the Business Services sector gained 1.33%, while the S&P 500 gained 8.11%.
The upcoming earnings release of Bit Digital, Inc. will be of great interest to investors. The company is expected to report EPS of -$0.04, up 20% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $24.12 million, down 3.89% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.12 per share and revenue of $143.41 million, indicating changes of +47.83% and +26.24%, respectively, compared to the previous 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 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1900% downward. Bit Digital, Inc. currently has a Zacks Rank of #5 (Strong Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 28% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bit Digital, Inc. (BTBT) Exceeds Market Returns: Some Facts to Consider
In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was up +2.53% at $1.62. The stock's performance was ahead of the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw a downswing of 0.16%, while the tech-heavy Nasdaq appreciated by 1.63%.
Coming into today, shares of the company had gained 9.72% in the past month. In that same time, the Business Services sector gained 1.33%, while the S&P 500 gained 8.11%.
The upcoming earnings release of Bit Digital, Inc. will be of great interest to investors. The company is expected to report EPS of -$0.04, up 20% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $24.12 million, down 3.89% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.12 per share and revenue of $143.41 million, indicating changes of +47.83% and +26.24%, respectively, compared to the previous 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 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1900% downward. Bit Digital, Inc. currently has a Zacks Rank of #5 (Strong Sell).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 28% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.