Bit Digital Inc. [BTBT] is -34.96% lower this YTD. Is it still time to buy?

Bit Digital Inc. [NASDAQ: BTBT] traded at a low on 04/14/21, posting a -6.74 loss after which it closed the day’ session at $14.25. The company report on April 12, 2021 that Bit Digital Announces North American Executive Team Headquartered in New York, Positions for Rapid Growth.

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Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a bitcoin mining company headquartered in New York with one of the highest operating hash rates (or computing power) among all US listed bitcoin miners, announced the appointment of Bryan Bullett as Chief Executive Officer and Sam Tabar as Chief Strategy Officer. Erke Huang will continue his role as Chief Financial Officer. The new appointments are expected to position the Company for continued rapid growth and access to new strategic opportunities.

Bryan Bullett, Chief Executive Officer.

The results of the trading session contributed to over 25729667 shares changing hands. Over the past one week, the price volatility of Bit Digital Inc. stands at 18.05% while the volatility over the past one month is 14.25%.

The market cap for BTBT stock reached $680.15 million, with 43.80 million shares outstanding and 36.57 million shares in the current float. Compared to the average trading volume of 3.30M shares, BTBT reached a trading volume of 25729667 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Bit Digital Inc. [BTBT]?

The Average True Range (ATR) for Bit Digital Inc. is set at 2.28, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 32.23. The Price to Book ratio for the last quarter was 16.38, with the Price to Cash per share for the same quarter was set at 0.14.

How has BTBT stock performed recently?

Bit Digital Inc. [BTBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.59. With this latest performance, BTBT shares dropped by -24.76% in over the last four-week period, additionally plugging by 258.94% over the last 6 months – not to mention a rise of 1207.34% 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 44.35, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 45.96 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 17.44, while it was recorded at 15.71 for the last single week of trading, and 9.29 for the last 200 days.

Bit Digital Inc. [BTBT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bit Digital Inc. [BTBT] shares currently have an operating margin of +5.32 and a Gross Margin at +17.26. Bit Digital Inc.’s Net Margin is presently recorded at +9.14.

Return on Total Capital for BTBT is now 5.32, given the latest momentum, and Return on Invested Capital for the company is 9.19. Return on Equity for this stock inclined to 9.19, with Return on Assets sitting at 8.66.

Reflecting on the efficiency of the workforce at the company, Bit Digital Inc. [BTBT] managed to generate an average of $128,290 per employee. Receivables Turnover for the company is 79.55 with a Total Asset Turnover recorded at a value of 0.95.Bit Digital Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

Insider trade positions for Bit Digital Inc. [BTBT]

There are presently around $9 million, or 1.30% 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 23.20% of the total institutional ownership; JANE STREET GROUP, LLC, holding 151,232 shares of the stock with an approximate value of $2.15 million in BTBT stocks shares; and VIRTU FINANCIAL LLC, currently with $0.98 million in BTBT stock with ownership of nearly New of the company’s market capitalization.

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15 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 568,780 shares. Additionally, 3 investors decreased positions by around 55,677 shares, while 1 investors held positions by with 10,396 shares. The mentioned changes placed institutional holdings at 634,853 shares, according to the latest SEC report filing. BTBT stock had 13 new institutional investments in for a total of 554,316 shares, while 2 institutional investors sold positions of 54,793 shares during the same period.

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