Bit Digital Inc. [BTBT] Revenue clocked in at $72.30 million, down -61.43% YTD: What’s Next?

Bit Digital Inc. [NASDAQ: BTBT] traded at a low on 05/28/21, posting a -10.39 loss after which it closed the day’ session at $8.45. The company report on May 26, 2021 that Bit Digital Appoints Brock Pierce To Advisory Board.

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Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), one of the largest publicly-listed Bitcoin miners globally, announced the appointment of Brock Pierce, Chairman of the Bitcoin Foundation, to its advisory board and leadership team.

“As we continue to build our management and operational center of gravity here in the United States, we are adding exceptional talent to our leadership team,” said Bryan Bullett, Bit Digital’s CEO. “Brock’s stature is unparalleled in our industry, and we enthusiastically welcome him as an Advisor.”.

The results of the trading session contributed to over 2282913 shares changing hands. Over the past one week, the price volatility of Bit Digital Inc. stands at 12.01% while the volatility over the past one month is 11.75%.

The market cap for BTBT stock reached $455.71 million, with 48.29 million shares outstanding and 37.11 million shares in the current float. Compared to the average trading volume of 2.28M shares, BTBT reached a trading volume of 2282913 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 1.17, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 6.30. The Price to Book ratio for the last quarter was 5.45, with the Price to Cash per share for the same quarter was set at 0.55.

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 -1.40. With this latest performance, BTBT shares dropped by -36.47% in over the last four-week period, additionally plugging by 16.23% over the last 6 months – not to mention a rise of 784.82% 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 36.25, with the RSI for the last a single of trading hit 35.96, and the three-weeks RSI is set at 38.04 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 12.63, while it was recorded at 8.72 for the last single week of trading, and 10.68 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 11.10 and a Current Ratio set at 11.10.

Insider trade positions for Bit Digital Inc. [BTBT]

There are presently around $6 million, or 1.60% 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 $1.06 million in BTBT stocks shares; and WOLVERINE TRADING, LLC, currently with $0.4 million in BTBT stock with ownership of nearly New of the company’s market capitalization.

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23 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 423,907 shares. Additionally, 12 investors decreased positions by around 359,258 shares, while 0 investors held positions by with 83,613 shares. The mentioned changes placed institutional holdings at 699,552 shares, according to the latest SEC report filing. BTBT stock had 18 new institutional investments in for a total of 340,276 shares, while 7 institutional investors sold positions of 295,286 shares during the same period.

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