Bit Digital, Inc. (BTBT) Rises Yet Lags Behind Market: Some Facts Worth Knowing

The latest trading session saw Bit Digital, Inc. (BTBT) ending at $3.70, denoting a +0.54% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.The company's stock has climbed by 15.72% in the past month, exceeding the Business Services sector's gain of 0.03% and the S&P 500's gain of 1.17%.Market participants will be closely following the financial results of Bit Digital, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.04, marking a 100% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.74 million, up 54.12% from the year-ago period.It's also important for investors to be aware of any recent modifications to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Bit Digital, Inc. boasts a Zacks Rank of #4 (Sell).Digging into valuation, Bit Digital, Inc. currently has a Forward P/E ratio of 105.14. This represents a premium compared to its industry's average Forward P/E of 23.37.The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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