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

Bit Digital Inc (NASDAQ: BTBT) is -18.68% lower on its value in year-to-date trading and has touched a low of $1.76 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 $3.17 in the last trading session, with the day’s gains setting it 0.27%.

Currently trading at $3.44, the stock is 14.34% and 5.10% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.64 million and changing 8.52% at the moment leaves the stock 19.00% off its SMA200. BTBT registered 66.59% gain for a year compared to 6-month gain of 43.93%.

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The stock witnessed a -9.23% loss in the last 1 month and extending the period to 3 months gives it a 41.56%, and is 30.30% 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 9.07% over the week and 8.70% over the month.

Bit Digital Inc (BTBT) has around 24 employees, a market worth around $508.40M and $86.85M in sales. Current P/E ratio is 14.32 and Fwd P/E is 15.18. Profit margin for the company is 33.30%. Distance from 52-week low is 95.45% and -34.72% from its 52-week high. The company has generated returns on investments over the last 12 months (9.69%).

with sales reaching $30.8M over the same period.The EPS is expected to grow by 181.25% this year, but quarterly earnings will post 187.10% year-over-year. Quarterly sales are estimated to grow 166.40% in year-over-year returns.

Bit Digital Inc (BTBT) Top Institutional Holders

The shares outstanding are 147.79M, and float is at 146.89M with Short Float at 13.79%.

The top institutional shareholder in the company is BLACKROCK INC. with over 11.07 million shares valued at $35.2 million. The investor’s holdings represent 9.6597% of the BTBT Shares outstanding. As of 2024-06-30, the second largest holder is INVESCO LTD. with 9.51 million shares valued at $30.25 million to account for 8.3001 of the shares outstanding. The other top investors are STATE STREET CORP which holds 5.5 million shares representing 4.8019% and valued at over $17.5 million, while VAN ECK ASSOCIATES CORP holds 3.1078 of the shares totaling 3.56 million with a market value of $11.32 million.