Bit Digital Inc (NASDAQ: BTBT) is -12.97% 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 $2.42 in the last trading session, with the day’s gains setting it 0.13%.
Currently trading at $2.55, the stock is 17.43% and 20.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 27.89 million and changing 5.37% at the moment leaves the stock -18.05% off its SMA200. BTBT registered -3.41% loss for a year compared to 6-month loss of -36.57%. The firm has a 50-day simple moving average (SMA 50) of $2.1167 and a 200-day simple moving average (SMA200) of $3.111725.
The stock witnessed a 32.12% gain in the last 1 month and extending the period to 3 months gives it a -5.90%, and is 23.79% 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 4.10% over the week and 4.88% over the month.
Bit Digital Inc (BTBT) has around 54 employees, a market worth around $529.84M and $102.87M in sales. Fwd P/E is 17.96. Profit margin for the company is -77.27%. Distance from 52-week low is 50.89% and -55.57% from its 52-week high. The company has generated returns on investments over the last 12 months (-18.64%).
The EPS is expected to shrink by -211.40% this year
209.0 institutions hold shares in Bit Digital Inc (BTBT), with institutional investors hold 35.89% of the company’s shares. The shares outstanding are 207.78M, and float is at 203.26M with Short Float at 13.82%. Institutions hold 35.32% of the Float.
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.
