Bit Digital Inc (NASDAQ:BTBT) saw a downside of -0.96% to close Monday at $2.06 after subtracting -$0.02 on the day. The 5-day average trading volume is 2,169,880 shares of the company’s common stock. It has gained $2.42 in the past week and touched a new high 1 time within the past 5 days. An average of 2,754,335 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,420,070.
BTBT’s 1-month performance is -16.26% or -$0.28 on its low of $1.95 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.53 and high of $4.80, with the stock’s rally to the 52-week high happening on 06/29/23. YTD, BTBT has achieved 243.33% or $1.46 and has reached a new high 32 times. However, the current price is down -57.04% from the 52-week high price.
Valuation Metrics
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.12 while the price-to-book (PB) in the most recent quarter is 2.12.
Bit Digital Inc’s quick ratio for the period ended June 29 was 10.31, with the current ratio over the same period at 10.31. In terms of profitability, the gross margin trailing 12 months is -44.49%. The trailing 12-month EBITDA margin is -34.66% while for the period ending June 29, Bit Digital Inc’s operating margin was -116.96%. The firm’s gross profit as reported stood at $11.92 million against revenue of $32.3 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 104.62% to -$105.3 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected BTBT to announce -$0.09 per share in earnings in its latest quarter, but it posted -$0.03, representing a 66.70% surprise. EBITDA for the quarter stood at more than $1.08 million.
Let’s look briefly at Bit Digital Inc (BTBT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 33.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 68.18%.
The stock’s 5-day moving average is $2.17, reflecting a -11.21% or -$0.26 change from its current price. BTBT is currently trading -11.97% above its 20-day SMA, +1.98% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -49.88% and SMA200 by+164.07%.
Stochastic %K and %D was 9.62% and 19.17% and the average true range (ATR) pointed at 0.19. The RSI (14) points at 34.47%, while the 14-day stochastic is at 19.30% with the period’s ATR at 0.20. The stock’s 9-day MACD Oscillator is pointing at -0.14 and -0.13 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Bit Digital Inc (NASDAQ: BTBT), H.C. Wainwright launched coverage with a Buy rating. Analysts offering their rating for BTBT stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate BTBT as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 3 have offered a “buy” rating.
What is BTBT’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.90 and a high of $4.50, with their median price target at $4.00. Looking at these predictions, the average price target given by analysts is for Bit Digital Inc (BTBT) stock is $4.13.
