Bit Digital Inc. [BTBT] Is Currently -4.13 below its 200 Period Moving Avg: What Dose This Mean?

Bit Digital Inc. [NASDAQ: BTBT] plunged by -$0.43 during the normal trading session on Tuesday and reaching a high of $10.7599 during the day while it closed the day at $9.97. The company report on September 7, 2021 that Bit Digital and Blockfusion Announce 35 Megawatt Strategic Partnership.

Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital”) and Blockfusion USA, Inc. (“Blockfusion”) (together, the “Companies”) are pleased to announce that the Companies have entered into a strategic co-mining agreement (the “Agreement”). Pursuant to the terms of the Agreement, Blockfusion will provide certain premises and services to Bit Digital for the operation of a 35 MW bitcoin mining system for a term of 2 years, with automatic one-year renewals. This partnership is expected to facilitate an increase in Bit Digital’s hashrate of up to approximately 1.2 Exahash (“EH”). Bit Digital expects to complete the first (of four) phases of miner equipment deliveries for installation on or about September 15, 2021.

Consistent with the Companies’ leadership in sustainability, the energy used by the mining system is expected to be generated primarily from zero carbon emission sources.

Bit Digital Inc. stock has also loss -14.93% of its value over the past 7 days. However, BTBT stock has inclined by 15.80% in the 3 months of the year. Over the past six months meanwhile, it has lost -40.01% and lost -54.50% year-on date.

The market cap for BTBT stock reached $595.61 million, with 49.74 million shares outstanding and 43.78 million shares in the current float. Compared to the average trading volume of 18.48M shares, BTBT reached a trading volume of 4995017 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 1.73, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 6.43. The Price to Book ratio for the last quarter was 4.73, with the Price to Cash per share for the same quarter was set at 0.83.

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 -14.93. With this latest performance, BTBT shares dropped by -26.53% in over the last four-week period, additionally sinking by -40.01% over the last 6 months – not to mention a rise of 117.21% 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 41.63, with the RSI for the last a single of trading hit 33.26, and the three-weeks RSI is set at 45.90 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 9.93, while it was recorded at 10.59 for the last single week of trading, and 12.47 for the last 200 days.

Bit Digital Inc. [BTBT]: An insightful look at the core 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 18.80 and a Current Ratio set at 18.80.

Bit Digital Inc. [BTBT]: Insider Ownership positions

There are presently around $53 million, or 10.00% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: STATE STREET CORP with ownership of 979,109, which is approximately New of the company’s market cap and around 23.20% of the total institutional ownership; BLACKROCK INC., holding 681,976 shares of the stock with an approximate value of $6.8 million in BTBT stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $4.97 million in BTBT stock with ownership of nearly 4744.755% of the company’s market capitalization.

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42 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 4,987,431 shares. Additionally, 16 investors decreased positions by around 442,116 shares, while 2 investors held positions by with 161,550 shares. The mentioned changes placed institutional holdings at 5,267,997 shares, according to the latest SEC report filing. BTBT stock had 33 new institutional investments in for a total of 3,982,366 shares, while 7 institutional investors sold positions of 80,958 shares during the same period.

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