Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for BTBT is 117.38M, and at present, short sellers hold a 17.68% of that float. On May 06, 2024, the average trading volume of BTBT was 7.69M shares.
BTBT) stock’s latest price update
Bit Digital Inc (NASDAQ: BTBT)’s stock price has plunge by 2.33relation to previous closing price of 2.15. Nevertheless, the company has seen a -4.76% plunge in its stock price over the last five trading sessions. The Motley Fool reported 2024-05-03 that Bitcoin miners are facing a significant change to their overall business models given that the halving has slashed their mining rewards in half. To make up any revenue shortfall, smaller Bitcoin miners appear to be exploring a move into AI computing.
BTBT’s Market Performance
Bit Digital Inc (BTBT) has experienced a -4.76% fall in stock performance for the past week, with a -8.71% drop in the past month, and a -14.06% drop in the past quarter. The volatility ratio for the week is 7.94%, and the volatility levels for the past 30 days are at 8.45% for BTBT. The simple moving average for the past 20 days is 3.43% for BTBT’s stock, with a -18.10% simple moving average for the past 200 days.
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 -6.30% 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 -58.25% of loss for the given period.
Volatility was left at 8.45%, however, over the last 30 days, the volatility rate increased by 7.94%, as shares sank -8.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.00% lower at present.
During the last 5 trading sessions, BTBT fell by -4.76%, which changed the moving average for the period of 200-days by -46.86% in comparison to the 20-day moving average, which settled at $2.12. In addition, Bit Digital Inc saw -47.99% 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 5.02. 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
To sum up, Bit Digital Inc (BTBT) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
