Taking the lead: Bit Digital Inc. (BTBT)

Bit Digital Inc. (NASDAQ: BTBT) stock jumped 1.75% on Monday to $2.32 against a previous-day closing price of $2.28. With 3.36 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.99 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $2.5200 whereas the lowest price it dropped to was $2.3100. The 52-week range on BTBT shows that it touched its highest point at $4.80 and its lowest point at $0.53 during that stretch. It currently has a 1-year price target of $4.13.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BTBT was up-trending over the past week, with a rise of 11.54%, but this was down by -13.75% over a month. Three-month performance dropped to -30.95% while six-month performance rose 82.68%. The stock gained 60.00% in the past year, while it has gained 286.67% so far this year. A look at the trailing 12-month EPS for BTBT yields -0.99 with Next year EPS estimates of -0.22. For the next quarter, that number is -0.06. This implies an EPS growth rate of 75.70% for this year and -29.40% for next year.

Float and Shares Shorts:

At present, 88.30 million BTBT shares are outstanding with a float of 87.76 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.04 million, which was 12.50% higher than short shares on Jul 30, 2023. In addition to Mr. Samir Tabar as the firm’s Chief Exec. Officer, Mr. Erke Huang serves as its CFO & Director.

Institutional Ownership:

Through their ownership of 18.52% of BTBT’s outstanding shares, institutional investors have minority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BTBT reported revenue of $6.82M and operating income of -$6.69M. The EBITDA in the recently reported quarter was $8.88M and diluted EPS was -$0.22.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BTBT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BTBT analysts setting a high price target of $4.50 and a low target of $3.90, the average target price over the next 12 months is $4.13. Based on these targets, BTBT could surge 93.97% to reach the target high and rise by 68.1% to reach the target low. Reaching the average price target will result in a growth of 78.02% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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