Bit Digital Inc (BTBT) Stock Could Soon Reward Patient Investors

Bit Digital Inc (NASDAQ: BTBT) is 600.00% higher on its value in year-to-date trading and has touched a low of $0.53 and a high of $4.80 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BTBT stock was last observed hovering at around $3.90 in the last trading session, with the day’s gains setting it 0.3%.

Currently trading at $4.20, the stock is 34.62% and 65.48% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.4 million and changing 7.69% at the moment leaves the stock 59.92% off its SMA200. BTBT registered 567.30% gain for a year compared to 6-month loss of -6.25%. The firm has a 50-day simple moving average (SMA 50) of $10.04 and a 200-day simple moving average (SMA200) of -$29.57.

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The stock witnessed a 80.26% gain in the last 1 month and extending the period to 3 months gives it a 107.92%, and is 28.83% 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 13.14% over the week and 9.92% over the month.

Bit Digital Inc (BTBT) has around 18 employees, a market worth around $357.13M and $34.21M in sales. Profit margin for the company is -238.76%. Distance from 52-week low is 692.30% and -12.41% from its 52-week high. The company has generated returns on investments over the last 12 months (-89.03%).

Bit Digital Inc (BTBT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Bit Digital Inc (BTBT) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Bit Digital Inc is expected to release its quarterly report on 03/27/2024.The EPS is expected to grow by 86.07% this year.

Bit Digital Inc (BTBT) Top Institutional Holders

The shares outstanding are 85.03M, and float is at 84.62M with Short Float at 14.66%.