Bit Digital Inc. [BTBT] Is Currently -9.76 below its 200 Period Moving Avg: What Does This Mean?



Bit Digital Inc. [NASDAQ: BTBT] closed the trading session at $1.48 on 05/11/22. The day’s price range saw the stock hit a low of $1.48, while the highest price level was $1.655. The company report on May 10, 2022 that Bit Digital, Inc. Announces Monthly Production Update for April 2022.

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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 corporate updates for the month of April 2022.

The stocks have a year to date performance of -75.66 percent and weekly performance of -34.80 percent. The stock has been moved at -87.98 percent over the last six months. The stock has performed -50.00 percent around the most recent 30 days and changed -68.44 percent over the most recent 3-months.

If compared to the average trading volume of 3.51M shares, BTBT reached to a volume of 4810155 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTBT shares is $14.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTBT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Bit Digital Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 23, 2021.

The Average True Range (ATR) for Bit Digital Inc. is set at 0.22, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 1.23.

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 -34.80. With this latest performance, BTBT shares dropped by -50.00% in over the last four-week period, additionally sinking by -87.98% over the last 6 months – not to mention a drop of -84.76% 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 25.27, with the RSI for the last a single of trading hit 21.33, and the three-weeks RSI is set at 28.83 for Bit Digital Inc. [BTBT]. The present Moving Average for the last 50 days of trading for this stock 2.9504, while it was recorded at 1.7300 for the last single week of trading, and 7.3191 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 +13.60 and a Gross Margin at +54.36. Bit Digital Inc.’s Net Margin is presently recorded at +5.06.

Return on Equity for this stock inclined to 4.64, with Return on Assets sitting at 4.43.

Bit Digital Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.10 and a Current Ratio set at 19.10.

Bit Digital Inc. [BTBT]: Insider Ownership positions

There are presently around $39 million, or 33.40% of BTBT stock, in the hands of institutional investors. The top three institutional holders of BTBT stocks are: ARMISTICE CAPITAL, LLC with ownership of 4,215,852, which is approximately 0% of the company’s market cap and around 16.37% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 4,215,852 shares of the stock with an approximate value of $6.91 million in BTBT stocks shares; and INVESCO LTD., currently with $6.52 million in BTBT stock with ownership of nearly 10220.853% of the company’s market capitalization.

Positions in Bit Digital Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 38 institutional holders increased their position in Bit Digital Inc. [NASDAQ:BTBT] by around 7,343,516 shares. Additionally, 24 investors decreased positions by around 682,562 shares, while 18 investors held positions by with 15,962,861 shares. The mentioned changes placed institutional holdings at 23,988,939 shares, according to the latest SEC report filing. BTBT stock had 13 new institutional investments in for a total of 1,962,464 shares, while 16 institutional investors sold positions of 215,475 shares during the same period.