Will Bit Digital Inc (BTBT) benefit from Wall Street bulls Calls?

Bit Digital Inc (NASDAQ: BTBT) is -23.55% lower on its value in year-to-date trading and has touched a low of $1.69 and a high of $5.74 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 $2.15 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $2.24, the stock is 12.62% and 5.67% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 17.0 million and changing 4.19% at the moment leaves the stock -28.83% off its SMA200. BTBT registered 2.28% gain for a year compared to 6-month loss of -45.89%.

The stock witnessed a 21.08% gain in the last 1 month and extending the period to 3 months gives it a -23.02%, and is 11.44% 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 5.32% over the week and 5.63% over the month.

Bit Digital Inc (BTBT) has around 54 employees, a market worth around $456.41M and $108.05M in sales. Current P/E ratio is 9.24 and Fwd P/E is 12.80. Profit margin for the company is 26.20%. Distance from 52-week low is 32.54% and -60.98% from its 52-week high. The company has generated returns on investments over the last 12 months (5.99%).

The EPS is expected to shrink by -179.82% this year.

Bit Digital Inc (BTBT) Top Institutional Holders

The shares outstanding are 203.75M, and float is at 199.32M with Short Float at 14.09%.

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 8.6444% 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 7.4277 of the shares outstanding. The other top investors are STATE STREET CORP which holds 5.5 million shares representing 4.2972% and valued at over $17.5 million, while VAN ECK ASSOCIATES CORP holds 2.7811 of the shares totaling 3.56 million with a market value of $11.32 million.