Bit Digital Inc. [NASDAQ: BTBT] loss -3.85% or -0.4 points to close at $10.00 with a heavy trading volume of 17493140 shares. The company report on July 27, 2021 that Fireside Chat Between Bit Digital and Marathon Digital Holdings.
Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a bitcoin mining company headquartered in New York with one of the largest currently-owned fleets among US listed bitcoin miners, was selected to participate in a panel discussion with Marathon Digital Holdings (“Marathon”) at Sequire’s Blockchain Conference on July 15th.
Bit Digital CEO Bryan Bullett and Marathon CEO Fred Thiel presented; the full transcript is available here and the video recording is available above. The panel was moderated by Ibrahim AlHusseini, CEO of FullCycle, a private equity investment company focused on the deployment of climate-restoring technologies.
It opened the trading session at $10.49, the shares rose to $10.90 and dropped to $9.63, the range by which the price of stock traded the whole day. The daily chart for BTBT points out that the company has recorded -46.06% loss over the past six months. However, it is still -222.58% lower than its most recent low trading price.
If we look at the average trading volume of 10.34M shares, BTBT reached to a volume of 17493140 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 1.30, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 5.91. The Price to Book ratio for the last quarter was 6.45, with the Price to Cash per share for the same quarter was set at 0.69.
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 69.78. With this latest performance, BTBT shares gained by 70.65% in over the last four-week period, additionally sinking by -46.06% over the last 6 months – not to mention a rise of 221.54% 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 63.69, with the RSI for the last a single of trading hit 67.60, and the three-weeks RSI is set at 59.68 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 7.13, while it was recorded at 9.07 for the last single week of trading, and 11.29 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 +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.
An analysis of insider ownership at Bit Digital Inc. [BTBT]
There are presently around $12 million, or 5.50% 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 300,000, which is approximately New of the company’s market cap and around 23.20% of the total institutional ownership; JANE STREET GROUP, LLC, holding 208,743 shares of the stock with an approximate value of $2.09 million in BTBT stocks shares; and EXCHANGE TRADED CONCEPTS, LLC, currently with $1.52 million in BTBT stock with ownership of nearly New of the company’s market capitalization.
25 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 864,983 shares. Additionally, 9 investors decreased positions by around 118,706 shares, while 1 investors held positions by with 166,338 shares. The mentioned changes placed institutional holdings at 1,150,027 shares, according to the latest SEC report filing. BTBT stock had 19 new institutional investments in for a total of 781,052 shares, while 4 institutional investors sold positions of 55,091 shares during the same period.