Sunday, March 7, 2021

Bit Digital Inc. [BTBT] moved up 46.20: Why It’s Important

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Bit Digital Inc. [NASDAQ: BTBT] gained 46.20% or 8.09 points to close at $25.60 with a heavy trading volume of 12719406 shares. The company report on February 9, 2021 that SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Bit Digital, Inc. of Class Action Lawsuit and Upcoming Deadline – BTBT.

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NEW YORK, NY / ACCECSSWIRE / February 8, 2021 / Pomerantz LLP announces that a class action lawsuit has been filed against Bit Digital, Inc. (“Bit Digital” or the “Company”) (NASDAQ:BTBT) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-00721, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Bit Digital securities between December 21, 2020 and January 8, 2021, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).


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If you are a shareholder who purchased Bit Digital securities during the Class Period, you have until March 22, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

It opened the trading session at $20.701, the shares rose to $26.165 and dropped to $19.02, the range by which the price of stock traded the whole day. The daily chart for BTBT points out that the company has recorded 414.06% gains over the past six months. However, it is still -9042.86% lower than its most recent low trading price.

If we look at the average trading volume of 7.57M shares, BTBT reached to a volume of 12719406 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 Bit Digital Inc. [BTBT]:

The Average True Range (ATR) for Bit Digital Inc. is set at 4.04, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 101.26. The Price to Book ratio for the last quarter was 54.47, with the Price to Cash per share for the same quarter was set at 0.06.

Trading performance analysis for BTBT stock

Bit Digital Inc. [BTBT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 40.50. With this latest performance, BTBT shares gained by 3.27% in over the last four-week period, additionally plugging by 414.06% over the last 6 months – not to mention a rise of 4643.38% 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 68.28, with the RSI for the last a single of trading hit 72.69, and the three-weeks RSI is set at 66.36 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 13.79, while it was recorded at 19.84 for the last single week of trading, and 5.73 for the last 200 days.

Bit Digital Inc. [BTBT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bit Digital Inc. [BTBT] shares currently have an operating margin of -208.88. Bit Digital Inc.’s Net Margin is presently recorded at -207.13.

Return on Total Capital for BTBT is now -117.50, given the latest momentum, and Return on Invested Capital for the company is -121.91. Return on Equity for this stock declined to -121.91, with Return on Assets sitting at -110.83.

Reflecting on the efficiency of the workforce at the company, Bit Digital Inc. [BTBT] managed to generate an average of -$150,321 per employee. Receivables Turnover for the company is 13.61 with a Total Asset Turnover recorded at a value of 0.54.Bit Digital Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 3.90.

An analysis of insider ownership at Bit Digital Inc. [BTBT]

There are presently around $9 million, or 0.80% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: TB ALTERNATIVE ASSETS LTD. with ownership of 240,000, which is approximately New of the company’s market cap and around 23.33% of the total institutional ownership; HRT FINANCIAL LP, holding 54,693 shares of the stock with an approximate value of $1.4 million in BTBT stocks shares; and INVESCO LTD., currently with $0.99 million in BTBT stock with ownership of nearly New of the company’s market capitalization.

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8 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 343,972 shares. Additionally, 3 investors decreased positions by around 101,304 shares, while 0 investors held positions by with 83,481 shares. The mentioned changes placed institutional holdings at 361,795 shares, according to the latest SEC report filing. BTBT stock had 7 new institutional investments in for a total of 307,102 shares, while 3 institutional investors sold positions of 101,304 shares during the same period.

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