Bit Digital Inc (NASDAQ: BTBT) is -35.93% 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 $2.60 in the last trading session, with the day’s gains setting it 0.11%.
Currently trading at $2.71, the stock is -4.62% and -13.20% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.6 million and changing 4.23% at the moment leaves the stock -7.81% off its SMA200. BTBT registered 113.39% gain for a year compared to 6-month gain of 5.04%. The firm has a 50-day simple moving average (SMA 50) of $7.54 and a 200-day simple moving average (SMA200) of -$22.22.
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The stock witnessed a 2.65% loss in the last 1 month and extending the period to 3 months gives it a 3.44%, and is 1.12% 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 14.32% over the week and 10.01% over the month.
Bit Digital Inc (BTBT) has around 18 employees, a market worth around $230.43M and $34.21M in sales. Profit margin for the company is -238.76%. Distance from 52-week low is 179.18% and -48.58% 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 $13.18M over the same period.The EPS is expected to grow by 86.01% this year, but quarterly earnings will post 30.10% year-over-year. Quarterly sales are estimated to grow 69.50% in year-over-year returns.
Bit Digital Inc (BTBT) Top Institutional Holders
153 institutions hold shares in Bit Digital Inc (BTBT), with institutional investors hold 50.75% of the company’s shares. The shares outstanding are 85.03M, and float is at 84.62M with Short Float at 13.81%. Institutions hold 50.45% 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.
