Bit Digital Inc. (NASDAQ:BTBT) traded with an addition of $0.03 to close at $0.57 on Thursday, an upside of 5.60 percent. An average of 634,834 shares of common stock have been traded in the last five days. There was a fall of -$0.0197 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 767,063 shares traded, while the 50-day average volume stands at 967,765.
BTBT stock has decreased by -37.73% in the last month. The company shares reached their 1-month lowest point of $0.5301 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $0.53 and a high of $6.64 in 52 weeks. It has reached a new high 2 times so far this year and lost -91.12% or -$5.5187 in price. In spite of this, the price is down -91.42% from the 52-week high.
Bit Digital Inc. (BTBT) stock’s beta is 5.28. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.21, the price-to-book (PB) ratio at 0.30.
The quick ratio of Bit Digital Inc. for the three months ended September 29 was 19.80, and the current ratio was 19.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending September 29. Its gross profit as reported stood at $65.34 million compared to revenue of $96.08 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Bit Digital Inc.’s return on assets was -30.10%.
For the three-month period that ended September 29, Bit Digital Inc. had $1.0 million in cash and short-term investments compared to $2.77 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $4.86 million in the quarter, while revenues were grew 139.3%. The analyst consensus anticipated Bit Digital Inc.’s latest quarter earnings to come in at -$0.06 per share, but it turned out to be -$0.17, a -183.30% surprise. For the quarter, EBITDA amounted to -$3.6 million. At the end of the quarter ending September 29, Bit Digital Inc.’s stock balance sheet showed total liabilities of 6.43 million.
From a technical analysis perspective, let’s take a brief look at Bit Digital Inc. (BTBT) price momentum. RSI 9-day as of the close on 28 December was 30.87%, suggesting the stock is Neutral, with historical volatility in this time frame at 127.32%.
As of today, BTBT’s price is $0.5768 -3.39% or -$0.0197 from its 5-day moving average. BTBT is currently trading -38.90% lower than its 20-day SMA and -65.35% lower than its 100-day SMA. However, the stock’s current price level is -46.03% below the SMA50 and -80.37% below the SMA200.
The stochastic %K and %D were 4.87% and 8.23%, respectively, and the average true range (ATR) was 0.0673. With the 14-day stochastic at 10.40% and the average true range at 0.0703, the RSI (14) stands at 31.37%. The stock has reached -0.0371 on the 9-day MACD Oscillator while the 14-day reading was at -0.0903.
H.C. Wainwright launched coverage on Bit Digital Inc. (NASDAQ: BTBT) in its analyst report released on September 23, 2021. The firm assigned the stock a Buy rating. The consensus rating for Bit Digital Inc. (BTBT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BTBT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is BTBT’s price target for the next 12 months?
Analysts predict a range of price targets between $2.00 and $2.00, with a median target of $2.00. Taking a look at these predictions, the average price target given by analysts for Bit Digital Inc. (BTBT) stock is $2.00.