Bit Digital, Inc. (BTBT) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest market close, Bit Digital, Inc. (BTBT) reached $3.06, with a -0.97% movement compared to the previous day. This change lagged the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.98%.The company's shares have seen a decrease of 8.31% over the last month, not keeping up with the Business Services sector's gain of 9.93% and the S&P 500's gain of 2.07%.The investment community will be closely monitoring the performance of Bit Digital, Inc. in its forthcoming earnings report. 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 latest consensus estimate predicts the revenue to be $24.74 million, indicating a 54.12% increase compared to the same quarter of the previous year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Bit Digital, Inc. possesses a Zacks Rank of #2 (Buy).From a valuation perspective, Bit Digital, Inc. is currently exchanging hands at a Forward P/E ratio of 88.29. This valuation marks a premium compared to its industry's average Forward P/E of 23.22.The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Just Released: Zacks Top 10 Stocks for 2025Hurry – you can still get in early on our 10 top tickers for 2025. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2025. You can still be among the first to see these just-released stocks with enormous potential. See New Top 10 Stocks >>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