Bit Digital, Inc. (BTBT) Stock Moves -1.69%: What You Should Know

The latest trading session saw Bit Digital, Inc. (BTBT) ending at $1.75, denoting a -1.69% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 2.36%. At the same time, the Dow lost 2.48%, and the tech-heavy Nasdaq lost 2.55%.The company's stock has dropped by 23.61% in the past month, falling short of the Business Services sector's loss of 1.14% and the S&P 500's loss of 5.6%.The investment community will be paying close attention to the earnings performance of Bit Digital, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.06, signifying a 300% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.18 million, indicating a 20.16% decrease compared to the same quarter of the previous year.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.02 per share and revenue of $157.96 million. These totals would mark changes of +92.86% and +46.19%, respectively, from last year.Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Bit Digital, Inc. is holding a Zacks Rank of #3 (Hold) right now.The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 60, placing it within the top 25% of over 250 industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. 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 UpWant 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