Bit Digital, Inc. (BTBT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest trading session, Bit Digital, Inc. (BTBT) closed at $3.84, marking a -4.24% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.01% for the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.05%. Prior to today's trading, shares of the company had gained 66.39% outpaced the Business Services sector's loss of 0.27% and the S&P 500's gain of 5.37%.Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.02, indicating a 100% decline compared to the equivalent quarter last year. For the full year, the Zacks Consensus Estimates project earnings of -$0.32 per share and a revenue of $123.6 million, demonstrating changes of -14.29% and +14.39%, respectively, from the preceding year. Investors should also note any recent changes to analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 90% decrease. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold). The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 29% of over 250 industries. The Zacks Industry Rank gauges the strength of our 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. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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
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