Bit Digital, Inc. (BTBT) Stock Dips While Market Gains: Key Facts

In the latest close session, Bit Digital, Inc. (BTBT) was down 6.25% at $3.00. This move lagged the S&P 500's daily gain of 0.41%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.31%. Heading into today, shares of the company had gained 24.51% over the past month, outpacing the Business Services sector's gain of 0.51% and the S&P 500's gain of 3.15%.The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0, reflecting a 100% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $30.82 million, showing a 35.69% escalation compared to the year-ago quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.2 per share and revenue of $117.02 million. These totals would mark changes of +28.57% and +8.3%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Bit Digital, Inc. boasts a Zacks Rank of #3 (Hold). The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 28% 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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