Bit Digital, Inc. (BTBT) Gains As Market Dips: What You Should Know

Bit Digital, Inc. (BTBT) closed at $2.23 in the latest trading session, marking a +2.76% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq decreased by 1.33%. Coming into today, shares of the company had gained 9.05% in the past month. In that same time, the Business Services sector lost 1.59%, while the S&P 500 gained 2.02%. Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. In that report, analysts expect Bit Digital, Inc. to post earnings of -$0.04 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.94 million, down 6.86% from the year-ago period. BTBT's full-year Zacks Consensus Estimates are calling for earnings of -$0.39 per share and revenue of $139.77 million. These results would represent year-over-year changes of -69.57% and +23.03%, respectively. Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Bit Digital, Inc. possesses a Zacks Rank of #5 (Strong Sell). The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 30% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks