The stock price of Bit Digital Inc (NASDAQ: BTBT) has plunged by -2.51 when compared to previous closing price of 4.38, but the company has seen a -0.47% decline in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-12 that Bit Digital’s pivot to AI and HPC infrastructure has significantly boosted revenues, offsetting Bitcoin mining declines due to the halving event. The company maintains strong financial health with $59 million in cash reserves and minimal debt, despite share dilution from equity issuance for AI expansion. Q3 earnings will be crucial to assess AI revenue growth and its impact on overall profitability, especially amidst volatile Bitcoin prices.
Is It Worth Investing in Bit Digital Inc (NASDAQ: BTBT) Right Now?
The price-to-earnings ratio for Bit Digital Inc (NASDAQ: BTBT) is above average at 17.77x, Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The public float for BTBT is 147.05M, and currently, short sellers hold a 17.47% ratio of that floaft. The average trading volume of BTBT on November 18, 2024 was 11.97M shares.
BTBT’s Market Performance
The stock of Bit Digital Inc (BTBT) has seen a -0.47% decrease in the past week, with a 10.05% rise in the past month, and a 42.81% gain in the past quarter. The volatility ratio for the week is 13.03%, and the volatility levels for the past 30 days are at 9.16% for BTBT. The simple moving average for the past 20 days is 1.80% for BTBT’s stock, with a 42.41% simple moving average for the past 200 days.
Analysts’ Opinion of BTBT
Many brokerage firms have already submitted their reports for BTBT stocks, with B. Riley Securities repeating the rating for BTBT by listing it as a “Buy.” The predicted price for BTBT in the upcoming period, according to B. Riley Securities is $6 based on the research report published on October 24, 2024 of the current year 2024.
Northland Capital, on the other hand, stated in their research note that they expect to see BTBT reach a price target of $6. The rating they have provided for BTBT stocks is “Outperform” according to the report published on February 13th, 2024.
H.C. Wainwright gave a rating of “Buy” to BTBT, setting the target price at $14 in the report published on September 23rd of the previous year.
BTBT Trading at 17.83% 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 -25.61% of loss for the given period.
Volatility was left at 9.16%, however, over the last 30 days, the volatility rate increased by 13.03%, as shares surge +5.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +72.87% upper at present.
During the last 5 trading sessions, BTBT fell by -0.47%, which changed the moving average for the period of 200-days by +58.74% in comparison to the 20-day moving average, which settled at $4.19. In addition, Bit Digital Inc saw 0.95% 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:
- -0.31 for the present operating margin
- 0.31 for the gross margin
The net margin for Bit Digital Inc stands at 0.33. The total capital return value is set at -0.09. Equity return is now at value 14.95, with 13.91 for asset returns.
Currently, EBITDA for the company is -12.31 million with net debt to EBITDA at -0.91. When we switch over and look at the enterprise to sales, we see a ratio of 6.65. The receivables turnover for the company is 16.79for trailing twelve months and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 21.05.
Conclusion
In a nutshell, Bit Digital Inc (BTBT) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
