Bit Digital Inc. [NASDAQ: BTBT] slipped around -1.85 points on Wednesday, while shares priced at $9.00 at the close of the session, down -17.05%. The company report on May 6, 2021 that Bit Digital, Inc. Announces First Quarter of Fiscal Year 2021 Financial Results.
Bit Digital, Inc. (Nasdaq: BTBT) (the “Company”), a bitcoin mining company headquartered in New York, announced its unaudited financial results for the first quarter ended March 31, 2021.
Financial Highlights for the First Quarter 2021.
Bit Digital Inc. stock is now -58.92% down from its year-to-date (YTD) trading value. BTBT Stock saw the intraday high of $10.14 and lowest of $8.77 per share. The company’s 52-week high price is 33.00, which means current price is +2.62% above from all time high which was touched on 01/04/21.
Compared to the average trading volume of 2.20M shares, BTBT reached a trading volume of 5075830 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 1.46, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 19.23. The Price to Book ratio for the last quarter was 10.34, with the Price to Cash per share for the same quarter was set at 0.15.
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 -7.31. With this latest performance, BTBT shares dropped by -23.27% in over the last four-week period, additionally plugging by 66.36% over the last 6 months – not to mention a rise of 947.73% 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 33.18, with the RSI for the last a single of trading hit 30.24, and the three-weeks RSI is set at 36.77 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 13.87, while it was recorded at 9.90 for the last single week of trading, and 10.53 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 $6 million, or 1.40% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: JANE STREET GROUP, LLC with ownership of 208,743, which is approximately 38.028% of the company’s market cap and around 23.33% of the total institutional ownership; BANK OF NOVA SCOTIA, holding 125,286 shares of the stock with an approximate value of $1.13 million in BTBT stocks shares; and WOLVERINE TRADING, LLC, currently with $0.42 million in BTBT stock with ownership of nearly New of the company’s market capitalization.
23 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 423,907 shares. Additionally, 11 investors decreased positions by around 358,258 shares, while 1 investors held positions by with 81,613 shares. The mentioned changes placed institutional holdings at 700,552 shares, according to the latest SEC report filing. BTBT stock had 18 new institutional investments in for a total of 340,276 shares, while 6 institutional investors sold positions of 294,286 shares during the same period.