Bit Digital, Inc. (BTBT) Stock Declines While Market Improves: Some Information for Investors

Bit Digital, Inc. (BTBT) closed at $4.06 in the latest trading session, marking a -1.69% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.66%. Shares of the company have appreciated by 39.53% over the course of the past month, outperforming the Business Services sector's loss of 2.72%, and the S&P 500's gain of 1.02%.Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0, signifying a 100.00% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.52 million, up 29.96% from the year-ago period. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.2 per share and a revenue of $115.72 million, indicating changes of +28.57% and +7.09%, respectively, from the former year. Any recent changes to analyst estimates for Bit Digital, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.09% lower. As of now, Bit Digital, Inc. holds a Zacks Rank of #3 (Hold). The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 56, putting it in the top 23% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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