Golden Bull Limited [BTBT] Stock trading around $5.97 per share: What’s Next?

Golden Bull Limited [NASDAQ: BTBT] gained 10.35% or 0.56 points to close at $5.97 with a heavy trading volume of 3618081 shares. The company report on November 11, 2020 that Bit Digital, Inc. enters into asset purchase agreements to acquire $13,903,088 worth of bitcoin miners with total hash power capacity of 1,000 Ph/s.

Bit Digital, Inc. (Nasdaq: BTBT), a Nasdaq listed Bitcoin mining company headquartered in New York announced that it had entered into asset purchase agreements with certain non-U.S. investors to issue an aggregate of 4,344,711 ordinary shares at the price of $3.20 per share, or total consideration of $13,903,088 in exchange for bitcoin miners.

Once the transaction closes, upon Nasdaq listing of the shares, the total hash power capacity of the Company will increase by approximately 1,000 Ph/s from 1,250 Ph/s to 2,250 Ph/s. The Company commenced the bitcoin mining business in February, 2020. By June 30, 2020, the Company had only 310 Ph/s hash power and by September 30, 2020, the hash power had increased to 1,250 Ph/s.

It opened the trading session at $6.15, the shares rose to $7.05 and dropped to $5.58, the range by which the price of stock traded the whole day. The daily chart for BTBT points out that the company has recorded 586.13% gains over the past six months. However, it is still -2032.14% lower than its most recent low trading price.

If we look at the average trading volume of 98.19K shares, BTBT reached to a volume of 3618081 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Golden Bull Limited [BTBT]:

The Average True Range (ATR) for Golden Bull Limited is set at 0.52, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 357.26. The Price to Book ratio for the last quarter was 8.29, with the Price to Cash per share for the same quarter was set at 0.06.

Trading performance analysis for BTBT stock

Golden Bull Limited [BTBT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 53.87. With this latest performance, BTBT shares gained by 45.61% in over the last four-week period, additionally plugging by 586.13% over the last 6 months – not to mention a rise of 84.83% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTBT stock in for the last two-week period is set at 75.29, with the RSI for the last a single of trading hit 81.28, and the three-weeks RSI is set at 70.88 for Golden Bull Limited [BTBT]. The present Moving Average for the last 50 days of trading for this stock 4.12, while it was recorded at 4.74 for the last single week of trading.

Golden Bull Limited [BTBT]: A deeper dive into fundamental analysis

Golden Bull Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

An analysis of insider ownership at Golden Bull Limited [BTBT]

There are presently around $1 million, or 0.40% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: HRT FINANCIAL LP with ownership of 54,693, which is approximately 206.868% of the company’s market cap and around 25.65% of the total institutional ownership; INVESCO LTD., holding 38,653 shares of the stock with an approximate value of $0.23 million in BTBT stocks shares; and VIRTU FINANCIAL LLC, currently with $0.16 million in BTBT stock with ownership of nearly New of the company’s market capitalization.

6 institutional holders increased their position in Golden Bull Limited [NASDAQ:BTBT] by around 129,958 shares. Additionally, 2 investors decreased positions by around 75,173 shares, while 0 investors held positions by with 57,350 shares. The mentioned changes placed institutional holdings at 147,781 shares, according to the latest SEC report filing. BTBT stock had 5 new institutional investments in for a total of 93,088 shares, while 2 institutional investors sold positions of 75,173 shares during the same period.

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