Bit Digital, Inc. (BTBT) Rises Higher Than Market: Key Facts

Bit Digital, Inc. (BTBT) closed at $4.14 in the latest trading session, marking a +0.98% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.74% for the day.Prior to today's trading, shares of the company had gained 37.12% over the past month. This has outpaced the Business Services sector's gain of 9.12% and the S&P 500's gain of 3.16% in that time.The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. On that day, Bit Digital, Inc. is projected to report earnings of -$0.03 per share, which would represent no growth from the year-ago period. Simultaneously, our latest consensus estimate expects the revenue to be $22.9 million, showing a 98.11% escalation compared to the year-ago quarter.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.26 per share and revenue of $112 million. These totals would mark changes of +262.5% and +149.35%, respectively, from last year.Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 146.43% decrease. Bit Digital, Inc. currently has a Zacks Rank of #3 (Hold).Looking at its valuation, Bit Digital, Inc. is holding a Forward P/E ratio of 15.62. This denotes a discount relative to the industry's average Forward P/E of 27.26.The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 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.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks