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Bit Digital, Inc. (BTBT) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was down 11.31% at $0.96. This change lagged the S&P 500's daily loss of 1.09%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 2.15%.
The company's stock has dropped by 29.41% in the past month, falling short of the Business Services sector's gain of 1.51% and the S&P 500's gain of 2.44%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. On that day, Bit Digital, Inc. is projected to report earnings of -$0.05 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.19 million, up 12.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $152.43 million, which would represent changes of -239.13% and +34.17%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5% higher. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Bit Digital, Inc. (BTBT) Suffers a Larger Drop Than the General Market: Key Insights
In the latest close session, Bit Digital, Inc. (BTBT - Free Report) was down 11.31% at $0.96. This change lagged the S&P 500's daily loss of 1.09%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 2.15%.
The company's stock has dropped by 29.41% in the past month, falling short of the Business Services sector's gain of 1.51% and the S&P 500's gain of 2.44%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. On that day, Bit Digital, Inc. is projected to report earnings of -$0.05 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.19 million, up 12.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.78 per share and revenue of $152.43 million, which would represent changes of -239.13% and +34.17%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5% higher. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.