Bit Digital, Inc. (BTBT) ended the recent trading session at $3.60, demonstrating a -3.74% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.49%, and the technology-dominated Nasdaq saw an increase of 0.95%.
The stock of company has risen by 39.03% in the past month, leading the Business Services sector's loss of 2.75% and the S&P 500's gain of 3.85%.
Market participants will be closely following the financial results of Bit Digital, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.02, signifying a 100.00% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.83 million, down 7.33% from the year-ago period.
BTBT's full-year Zacks Consensus Estimates are calling for earnings of -$0.32 per share and revenue of $123.6 million. These results would represent year-over-year changes of -14.29% and +14.39%, respectively.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 90% lower. 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 51, finds itself in the top 21% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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