Bit Digital Inc. [BTBT] Stock trading around $4.57 per share: What’s Next?

Bit Digital Inc. [NASDAQ: BTBT] closed the trading session at $4.57 on 07/16/21. The day’s price range saw the stock hit a low of $4.545, while the highest price level was $5.0928. The company report on July 13, 2021 that Bit Digital, Inc. Announces Bitcoin Production and Mining Operations Update for the Second Quarter of 2021.

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Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a bitcoin mining company headquartered in New York, announced its unaudited bitcoin production and mining operations update for the second quarter ended June 30, 2021.

Preliminary Second Quarter 2021 Highlights.

The stocks have a year to date performance of -79.14 percent and weekly performance of -18.83 percent. The stock has been moved at -74.78 percent over the last six months. The stock has performed -44.67 percent around the most recent 30 days and changed -65.72 percent over the most recent 3-months.

If compared to the average trading volume of 2.24M shares, BTBT reached to a volume of 2385132 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bit Digital Inc. [BTBT]:

The Average True Range (ATR) for Bit Digital Inc. is set at 0.60, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 3.42. The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 0.55.

BTBT stock trade performance evaluation

Bit Digital Inc. [BTBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.83. With this latest performance, BTBT shares dropped by -44.67% in over the last four-week period, additionally sinking by -74.78% over the last 6 months – not to mention a rise of 134.36% 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 23.89, with the RSI for the last a single of trading hit 17.22, and the three-weeks RSI is set at 29.01 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 7.92, while it was recorded at 5.08 for the last single week of trading, and 11.12 for the last 200 days.

Bit Digital Inc. [BTBT]: An insightful look at the core fundamentals

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.

Bit Digital Inc. [BTBT]: Insider Ownership positions

There are presently around $3 million, or 4.80% 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 23.20% of the total institutional ownership; BANK OF NOVA SCOTIA, holding 125,286 shares of the stock with an approximate value of $0.57 million in BTBT stocks shares; and WOLVERINE TRADING, LLC, currently with $0.21 million in BTBT stock with ownership of nearly New of the company’s market capitalization.

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22 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 423,507 shares. Additionally, 11 investors decreased positions by around 359,158 shares, while 0 investors held positions by with 83,513 shares. The mentioned changes placed institutional holdings at 699,152 shares, according to the latest SEC report filing. BTBT stock had 17 new institutional investments in for a total of 339,876 shares, while 6 institutional investors sold positions of 295,186 shares during the same period.

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