In the past week, BTBT stock has gone up by 17.70%, with a monthly decline of -8.99% and a quarterly plunge of -27.14%. The volatility ratio for the week is 7.18%, and the volatility levels for the last 30 days are 8.96% for Bit Digital Inc. The simple moving average for the last 20 days is 3.96% for BTBT stock, with a simple moving average of 13.34% for the last 200 days.
Is It Worth Investing in Bit Digital Inc. (NASDAQ: BTBT) Right Now?
There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The average price predicted by analysts for BTBT is $4.13, which is $1.68 above the current price. The public float for BTBT is 87.76M and currently, short sellers hold a 12.58% ratio of that float. The average trading volume of BTBT on September 18, 2023 was 4.99M shares.
BTBT) stock’s latest price update
The stock of Bit Digital Inc. (NASDAQ: BTBT) has increased by 7.38 when compared to last closing price of 2.28. Despite this, the company has experienced a 17.70% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2023-08-21 that Here is how Bit Digital, Inc. (BTBT) and UiPath (PATH) have performed compared to their sector so far this year.
Analysts’ Opinion of BTBT
Many brokerage firms have already submitted their reports for BTBT stocks, with H.C. Wainwright repeating the rating for BTBT by listing it as a “Buy.” The predicted price for BTBT in the upcoming period, according to H.C. Wainwright is $14 based on the research report published on September 23, 2021 of the previous year 2021.
BTBT Trading at -24.91% from the 50-Day Moving Average
After a stumble in the market that brought BTBT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.94% of loss for the given period.
Volatility was left at 8.96%, however, over the last 30 days, the volatility rate increased by 7.18%, as shares sank -8.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -40.49% lower at present.
During the last 5 trading sessions, BTBT rose by +15.87%, which changed the moving average for the period of 200-days by +180.20% in comparison to the 20-day moving average, which settled at $2.34. In addition, Bit Digital Inc. saw 308.03% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for BTBT
Current profitability levels for the company are sitting at:
- -120.83 for the present operating margin
- -49.26 for the gross margin
The net margin for Bit Digital Inc. stands at -326.03. The total capital return value is set at -29.84, while invested capital returns managed to touch -80.51. Equity return is now at value -83.60, with -71.40 for asset returns.
The receivables turnover for the company is 87.71 and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.65.
Conclusion
In conclusion, Bit Digital Inc. (BTBT) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
