Bit Digital Inc (BTBT) down -28.13% since start of the year

Bit Digital Inc (NASDAQ: BTBT) is -28.13% lower on its value in year-to-date trading and has touched a low of $0.97 and a high of $5.27 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BTBT stock was last observed hovering at around $2.74 in the last trading session, with the day’s gains setting it 0.3%.

Currently trading at $3.04, the stock is 14.29% and -3.44% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.91 million and changing 10.95% at the moment leaves the stock 5.72% off its SMA200. BTBT registered 125.19% gain for a year compared to 6-month loss of -15.08%. The firm has a 50-day simple moving average (SMA 50) of $7.19 and a 200-day simple moving average (SMA200) of -$21.18.

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The stock witnessed a -12.14% gain in the last 1 month and extending the period to 3 months gives it a 44.76%, and is 18.75% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.39% over the week and 9.43% over the month.

Profit margin for the company is -238.76%. Distance from 52-week low is 213.18% and -42.31% from its 52-week high. The company has generated returns on investments over the last 12 months (-89.03%).

Bit Digital Inc quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $13.01M over the same period.The EPS is expected to grow by 86.07% this year, but quarterly earnings will post 29.60% year-over-year. Quarterly sales are estimated to grow 67.30% in year-over-year returns.

Bit Digital Inc (BTBT) Top Institutional Holders

140 institutions hold shares in Bit Digital Inc (BTBT), with institutional investors hold 40.11% of the company’s shares. The shares outstanding are 85.03M, and float is at 84.62M with Short Float at 15.20%. Institutions hold 39.87% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 5.36 million shares valued at $21.76 million. The investor’s holdings represent 6.50% of the BTBT Shares outstanding. As of Jun 29, 2023, the second largest holder is State Street Corporation with 3.64 million shares valued at $14.78 million to account for 4.41% of the shares outstanding. The other top investors are Mirae Asset Global Investments Co., Ltd. which holds 1.54 million shares representing 1.87% and valued at over $6.25 million, while Van Eck Associates Corporation holds 1.45% of the shares totaling 1.2 million with a market value of $4.87 million.