Market cap of BitNile Holdings Inc. [NILE] reaches 128.40M – now what?


BitNile Holdings Inc. [AMEX: NILE] price plunged by -9.76 percent to reach at -$0.04. The company report on June 3, 2022 that BitNile Announces Closing of Public Offering of 144,000 Shares of 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock.

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BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announces today the closing of its public offering of 144,000 shares of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”) at a price to the public of $25.00 per share. Gross proceeds from the offering were approximately $3.6 million, before deducting offering expenses. Net proceeds to the Company, after payment of commissions, non-accountable fees and offering expenses, are expected to be approximately $3.07 million.

The shares of Series D Preferred Stock are expected to start trading on the New York Stock Exchange on or about June 7, 2022, under the symbol “NILE PRD.”.

A sum of 15711132 shares traded at recent session while its average daily volume was at 37.44M shares. BitNile Holdings Inc. shares reached a high of $0.41 and dropped to a low of $0.37 until finishing in the latest session at $0.37.

The one-year NILE stock forecast points to a potential upside of 92.77. The average equity rating for NILE stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on BitNile Holdings Inc. [NILE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NILE shares is $5.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NILE 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.

The Average True Range (ATR) for BitNile Holdings Inc. is set at 0.04, with the Price to Sales ratio for NILE stock in the period of the last 12 months amounting to 2.45. The Price to Book ratio for the last quarter was 0.11, with the Price to Cash per share for the same quarter was set at 0.16.

NILE Stock Performance Analysis:

BitNile Holdings Inc. [NILE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.99. With this latest performance, NILE shares dropped by -4.86% in over the last four-week period, additionally sinking by -77.30% over the last 6 months – not to mention a drop of -86.50% 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 NILE stock in for the last two-week period is set at 48.50, with the RSI for the last a single of trading hit 53.45, and the three-weeks RSI is set at 45.01 for BitNile Holdings Inc. [NILE]. The present Moving Average for the last 50 days of trading for this stock 0.4841, while it was recorded at 0.3889 for the last single week of trading, and 1.3690 for the last 200 days.

Insight into BitNile Holdings Inc. Fundamentals:

BitNile Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.80.

BitNile Holdings Inc. [NILE] Insider Position Details

There are presently around $5 million, or 4.90% of NILE stock, in the hands of institutional investors. The top three institutional holders of NILE stocks are: VANGUARD GROUP INC with ownership of 3,819,107, which is approximately -14.407% of the company’s market cap and around 0.40% of the total institutional ownership; MARSHALL WACE, LLP, holding 2,048,192 shares of the stock with an approximate value of $0.76 million in NILE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.61 million in NILE stock with ownership of nearly 305.89% of the company’s market capitalization.

Positions in BitNile Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 30 institutional holders increased their position in BitNile Holdings Inc. [AMEX:NILE] by around 5,031,985 shares. Additionally, 17 investors decreased positions by around 2,946,887 shares, while 13 investors held positions by with 6,423,302 shares. The mentioned changes placed institutional holdings at 14,402,174 shares, according to the latest SEC report filing. NILE stock had 12 new institutional investments in for a total of 2,654,613 shares, while 9 institutional investors sold positions of 2,150,000 shares during the same period.