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

In the latest market close, Bit Digital, Inc. (BTBT) reached $1.85, with no movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.79%. On the other hand, the Dow registered a gain of 0.78%, and the technology-centric Nasdaq increased by 0.64%.Coming into today, shares of the company had lost 24.18% in the past month. In that same time, the Business Services sector lost 2.73%, while the S&P 500 lost 3.56%.The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.06, showcasing a 300% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $24.18 million, down 20.16% from the prior-year quarter.For the full year, the Zacks Consensus Estimates project earnings of -$0.02 per share and a revenue of $157.96 million, demonstrating changes of +92.86% and +46.19%, respectively, from the preceding year.Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 153.85% downward. As of now, Bit Digital, Inc. holds a Zacks Rank of #3 (Hold).The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 27% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bit Digital, Inc. (BTBT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks