Bit Digital, Inc. (BTBT) ended the recent trading session at $2.01, demonstrating a +1.01% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 1%, and the technology-dominated Nasdaq saw an increase of 0.52%.
The company's shares have seen a decrease of 16.03% over the last month, not keeping up with the Business Services sector's loss of 0.47% and the S&P 500's gain of 5.95%.
The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.02, indicating a 100% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $29.4 million, showing a 1.56% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.3 per share and revenue of $138.88 million. These totals would mark changes of -7.14% and +28.53%, 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, there's been a 25% rise in the Zacks Consensus EPS estimate. Bit Digital, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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