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Bit Digital, Inc. (BTBT) Declines More Than Market: Some Information for Investors
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In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was down 5.17% at $1.65. This change lagged the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 1.16%.
Coming into today, shares of the company had lost 2.25% in the past month. In that same time, the Business Services sector gained 4.05%, while the S&P 500 gained 2.14%.
Market participants will be closely following the financial results of Bit Digital, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 66.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $21.71 million, reflecting a 15.54% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.55 per share and revenue of $137.81 million, which would represent changes of -139.13% and +21.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Bit Digital, Inc. possesses 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 110, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Bit Digital, Inc. (BTBT) Declines More Than Market: Some Information for Investors
In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was down 5.17% at $1.65. This change lagged the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 1.16%.
Coming into today, shares of the company had lost 2.25% in the past month. In that same time, the Business Services sector gained 4.05%, while the S&P 500 gained 2.14%.
Market participants will be closely following the financial results of Bit Digital, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 66.67% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $21.71 million, reflecting a 15.54% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.55 per share and revenue of $137.81 million, which would represent changes of -139.13% and +21.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Bit Digital, Inc. possesses 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 110, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.