Bit Digital Inc. (BTBT) Reached A New High 1 time During The Past Five Days

As of Thursday close, Bit Digital Inc.’s (NASDAQ:BTBT) stock was up $0.12, moving up 8.11 percent to $1.60. The average number of shares traded per day over the past five days has been 4,261,860 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.4000 fall in that time frame. In the last twenty days, the average volume was 3,727,855, while in the previous 50 days, it was 3,447,672.

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Since last month, BTBT stock retreated -43.26%. Shares of the company fell to $1.3800 on 05/12/22, the lowest level in the past month. A 52-week high of $20.74 was reached on 01/04/22 after having rallying from a 52-week low of $1.48. Since the beginning of this year, BTBT’s stock price has dropped by -73.68% or -$4.4800, and marked a new high 2 times. However, the stock has declined by -92.29% since its 52-week high.

Valuation Metrics

Right now, Bit Digital Inc. (BTBT) has a P/E ratio of about 7.66. The stock’s beta is 6.85. Besides these, the trailing price-to-sales (P/S) ratio of 1.27, the price-to-book (PB) ratio of 0.68.

Financial Health

In the three months ended September 29, Bit Digital Inc.’s quick ratio stood at 19.10, while its current ratio was 19.10, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 68.00% percent. In the year ended September 29, operating margins totaled 4.20%. Based on annual data, BTBT earned $65.34 million in gross profit and brought in $96.08 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.10%. Return on equity (ROE) for the past 12 months was 4.40%.

In Bit Digital Inc.’s quarter-end financial report for September 29, it reported total debt of $2.77 million against cash and short-term investments of $1.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BTBT’s revenue rose 78.07% during the quarter, while net income inched up to $96.08 million. While analysts expected Bit Digital Inc. to report $0.14 quarterly earnings, the actual figure was $0.07 per share. During the quarter, the company generated -$4.44 million in EBITDA. The liabilities of Bit Digital Inc. were 8.27 million at the end of its most recent quarter ended September 29.

Technical Picture

This quick technical analysis looks at Bit Digital Inc.’s (BTBT) price momentum. With a historical volatility rate of 134.45%, the RSI 9-day stood at 28.98% on 12 May.

With respect to its five-day moving average, the current Bit Digital Inc. price is down by -20.00% percent or -$0.4000. At present, BTBT shares trade -46.13% below its 20-day simple moving average and -75.87% percent below its 100-day simple moving average. However, the stock is currently trading approximately -58.76% below its SMA50 and -80.00% below its SMA200.

Stochastic coefficient K was 12.19% and Stochastic coefficient D was 13.82%, while ATR was 0.2278. Given the Stochastic reading of 23.16% for the 14-day period, the RSI (14) reading has been calculated as 29.85%. As of today, the MACD Oscillator reading stands at -0.2922, while the 14-day reading stands at -0.3888.

Analyst Ratings

H.C. Wainwright launched its rating on Bit Digital Inc. (NASDAQ: BTBT) to a Buy in a note to investors on September 23, 2021.


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