BitNile Holdings Inc. [NILE] Revenue clocked in at $27.20 million, down -88.38% YTD: What’s Next?

BitNile Holdings Inc. [AMEX: NILE] price plunged by -16.08 percent to reach at -$0.02. The company report on November 8, 2022 that BitNile Holdings, Inc. Announces Notice of Noncompliance with NYSE American Listing Standards.


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BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) today announced that on November 2, 2022, it had received a deficiency letter (the “Letter”) from NYSE American LLC (the “Exchange”) indicating that the Company is not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide (the “Company Guide”). Specifically, the Letter informed the Company that the Exchange has determined that the shares of the Company’s common stock (the “Shares”) have been selling for a low price per share for a substantial period of time and, pursuant to Section 1003(f)(v) of the Company Guide, the Company’s continued listing is predicated on the Company effecting a reverse stock split of the Shares or otherwise demonstrating sustained price improvement within a reasonable period of time, which the Exchange determined to be no later than May 2, 2023.

A sum of 11119160 shares traded at recent session while its average daily volume was at 6.84M shares. BitNile Holdings Inc. shares reached a high of $0.16 and dropped to a low of $0.13 until finishing in the latest session at $0.14.

The one-year NILE stock forecast points to a potential upside of 96.27. 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 $3.75 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 0.02, with the Price to Sales ratio for NILE stock in the period of the last 12 months amounting to 1.79. The Price to Book ratio for the last quarter was 0.12, with the Price to Cash per share for the same quarter was set at 0.13.

NILE Stock Performance Analysis:

BitNile Holdings Inc. [NILE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.18. With this latest performance, NILE shares dropped by -21.82% in over the last four-week period, additionally sinking by -50.61% over the last 6 months – not to mention a drop of -93.63% 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 28.43, with the RSI for the last a single of trading hit 24.52, and the three-weeks RSI is set at 31.40 for BitNile Holdings Inc. [NILE]. The present Moving Average for the last 50 days of trading for this stock 0.2060, while it was recorded at 0.1567 for the last single week of trading, and 0.4379 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 1.60 and a Current Ratio set at 1.90.

BitNile Holdings Inc. [NILE] Insider Position Details

There are presently around $4 million, or 7.60% of NILE stock, in the hands of institutional investors. The top three institutional holders of NILE stocks are: VANGUARD GROUP INC with ownership of 15,295,433, which is approximately 300.498% of the company’s market cap and around 0.40% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 1,919,272 shares of the stock with an approximate value of $0.27 million in NILE stocks shares; and BLACKROCK INC., currently with $0.23 million in NILE stock with ownership of nearly 29.141% of the company’s market capitalization.

Positions in BitNile Holdings Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 15 institutional holders increased their position in BitNile Holdings Inc. [AMEX:NILE] by around 14,388,163 shares. Additionally, 24 investors decreased positions by around 2,781,655 shares, while 17 investors held positions by with 8,297,859 shares. The mentioned changes placed institutional holdings at 25,467,677 shares, according to the latest SEC report filing. NILE stock had 3 new institutional investments in for a total of 159,261 shares, while 6 institutional investors sold positions of 358,766 shares during the same period.

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