The stock of Bit Digital Inc (BTBT) has seen a 11.06% increase in the past week, with a -10.07% drop in the past month, and a -30.35% decrease in the past quarter. The volatility ratio for the week is 10.22%, and the volatility levels for the past 30 days are at 10.73% for BTBT. The simple moving average for the last 20 days is -2.26% for BTBT stock, with a simple moving average of -17.26% 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 0 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 public float for BTBT is 84.29M and currently, short sellers hold a 19.12% ratio of that float. The average trading volume of BTBT on March 26, 2024 was 9.41M shares.
BTBT) stock’s latest price update
The stock price of Bit Digital Inc (NASDAQ: BTBT) has surged by 0.84 when compared to previous closing price of 2.39, but the company has seen a 11.06% gain in its stock price over the last five trading sessions. The Motley Fool reported 2024-03-22 that Bit Digital reported earnings this week. The cryptocurrency miner is getting into artificial intelligence.
Analysts’ Opinion of BTBT
Many brokerage firms have already submitted their reports for BTBT stocks, with Northland Capital repeating the rating for BTBT by listing it as a “Outperform.” The predicted price for BTBT in the upcoming period, according to Northland Capital is $6 based on the research report published on February 13, 2024 of the current year 2024.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see BTBT reach a price target of $14. The rating they have provided for BTBT stocks is “Buy” according to the report published on September 23rd, 2021.
BTBT Trading at -9.01% 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 -54.27% of loss for the given period.
Volatility was left at 10.73%, however, over the last 30 days, the volatility rate increased by 10.22%, as shares sank -23.25% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -23.73% lower at present.
During the last 5 trading sessions, BTBT rose by +11.06%, which changed the moving average for the period of 200-days by -14.54% in comparison to the 20-day moving average, which settled at $2.43. In addition, Bit Digital Inc saw -43.03% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BTBT
Current profitability levels for the company are sitting at:
- -0.5 for the present operating margin
- 0.33 for the gross margin
The net margin for Bit Digital Inc stands at -0.28. The total capital return value is set at -0.15. Equity return is now at value -11.45, with -9.59 for asset returns.
Based on Bit Digital Inc (BTBT), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is 4.05.
Currently, EBITDA for the company is -12.31 million with net debt to EBITDA at 1.52. When we switch over and look at the enterprise to sales, we see a ratio of 3.91. The receivables turnover for the company is 3.56for trailing twelve months and the total asset turnover is 0.26. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.04.
Conclusion
In conclusion, Bit Digital Inc (BTBT) has seen mixed performance in recent times. Analysts have a mixed 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.
