Bit Digital, Inc. (BTBT) Outperforms Broader Market: What You Need to Know

Bit Digital, Inc. (BTBT) closed at $2.11 in the latest trading session, marking a +0.96% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.1%.The the stock of company has fallen by 0.48% in the past month, leading the Business Services sector's loss of 4.91% and the S&P 500's loss of 4.29%.The upcoming earnings release of Bit Digital, Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$0.06, signifying a 300% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $24.18 million, reflecting a 20.16% fall from the equivalent quarter last year.For the full year, the Zacks Consensus Estimates project earnings of -$0.02 per share and a revenue of $157.96 million, demonstrating changes of +92.86% and +46.19%, respectively, from the preceding year.Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Bit Digital, Inc. possesses a Zacks Rank of #3 (Hold).The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bit Digital, Inc. (BTBT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks