Bit Digital Inc [NASDAQ: BTBT] traded at a low on Monday, posting a -4.86 loss after which it closed the day’ session at $2.35. The company report on March 5, 2024 at 4:30 PM that Bit Digital, Inc. Announces Monthly Production Update for February 2024.
Bit Digital, Inc. (Nasdaq: BTBT) (“Bit Digital” or the “Company”), a sustainable platform for digital assets and artificial intelligence (“AI”) infrastructure headquartered in New York, announced its unaudited digital asset production and corporate updates for the month of February 2024.
The results of the trading session contributed to over 6711885 shares changing hands. Over the past one week, the price volatility of Bit Digital Inc stands at 9.83% while the volatility over the past one month is 10.84%.
The market cap for BTBT stock reached $199.82 million, with 85.03 million shares outstanding and 84.62 million shares in the current float. Compared to the average trading volume of 9.72M shares, BTBT reached a trading volume of 6711885 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 $5.80 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 1.00. 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.
Northland Capital have made an estimate for Bit Digital Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 13, 2024. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on September 23, 2021, representing the official price target for Bit Digital Inc stock.
The Average True Range (ATR) for Bit Digital Inc is set at 0.29, with the Price to Sales ratio for BTBT stock in the period of the last 12 months amounting to 5.84. The Price to Book ratio for the last quarter was 2.42, with the Price to Cash per share for the same quarter was set at 0.61.
How has BTBT stock performed recently?
Bit Digital Inc [BTBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.37. With this latest performance, BTBT shares dropped by -14.23% in over the last four-week period, additionally plugging by 10.33% over the last 6 months – not to mention a rise of 119.63% 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 BTBT stock in for the last two-week period is set at 40.95, with the RSI for the last a single of trading hit 38.02, and the three-weeks RSI is set at 43.01 for Bit Digital Inc [BTBT]. The present Moving Average for the last 50 days of trading for this stock 2.94, while it was recorded at 2.38 for the last single week of trading, and 2.94 for the last 200 days.
Bit Digital Inc [BTBT]: Deeper insight into the fundamentals
Bit Digital Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.31 and a Current Ratio set at 10.31.
Earnings analysis for Bit Digital Inc [BTBT]
With the latest financial reports released by the company, Bit Digital Inc posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -45.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BTBT.
Insider trade positions for Bit Digital Inc [BTBT]
The top three institutional holders of BTBT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BTBT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BTBT stock with ownership which is approximately 5.8325%.
