Bit Digital, Inc. (BTBT) closed the most recent trading day at $3.74, moving -1.06% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.38%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.67%.
The company's shares have seen an increase of 48.24% over the last month, surpassing the Business Services sector's loss of 0.66% and the S&P 500's gain of 4.06%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0, up 100% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $30.82 million, indicating a 35.69% growth compared to the corresponding quarter of the prior year.
BTBT's full-year Zacks Consensus Estimates are calling for earnings of -$0.2 per share and revenue of $117.02 million. These results would represent year-over-year changes of +28.57% and +8.3%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Bit Digital, Inc. presently features a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.
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Bit Digital, Inc. (BTBT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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