How have the shares performed?
Bit Digital Inc. (BTBT) saw downtrend of -4.56% in the recent trading with $7.74 being its most recent. The current price level -76.55% lower than the highest price of $33.00 marked by the stock while trading over the past 52-weeks, whereas it is 561.54% higher than the lowest price of $1.17 the company dropped to over past 52-weeks. The latest news story on BTBT appeared in GlobeNewswire under the title “Digihost Announces Strategic Collaboration With Bit Digital to Increase Combined Hashrates by 400 PH” on Jun-10-21.
Squeezing the time span to 30 day period shows us the stock is currently trading -32.64% below one month high and is +4.15% above of the lowest during that time. Looking into the simple moving average, Bit Digital Inc. (BTBT)’s stock stands at a SMA-50 of $11.50 while that of 5-day is reading $8.03.
Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and BTBT’s SMA-200 as of now is $10.87.
Bit Digital Inc. Earnings – What Happened With BTBT
Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. During the reported three-month period, company’s sales were $20.37 billion.
BTBT – Bit Digital Inc. Stock Earnings Estimates
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 48.29 million. BTBT does have institutional investors; and they hold 1.60% of the stock.
Bit Digital Inc. – Insider Activity and Holdings
As on Dec 30, 2020, TB Alternative Assets Ltd. was the top most holder in Bit Digital Inc. (NASDAQ:BTBT) with an ownership of 0.24 million shares of the company or 0.50% of the stake worth $5.26 million. The filing also reveals Jane Street Group, LLC as the second largest holder in the company with a control over 0.31% of the outstanding shares. Its stake is worth $3.31 million for having 0.15 million shares in hand.
Virtu Financial LLC also came holding a key position in the company during the recent quarter and it now holds 0.14% of the outstanding shares. With this there are now 22 institutions which have possession in BTBT’s shares.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, current ratio recorded by Bit Digital Inc. was 4.60 while posting a debt to equity ratio of 0.02.
Bit Digital Inc.’s return on equity, or ROE, is 104.50%, compared to the industry average of 4.71% for Technology – Software – Application. Although this indicates that BTBT uses its equity well, the metric will vary significantly depending on the industry.
Technical Analysis of Bit Digital Inc. (NASDAQ:BTBT) stock
To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Bit Digital Inc. (BTBT), we notice that the stock’s 20-day average volume is at 2,523,520 shares and 100% of short term indicators are suggesting the stock as Sell. Medium term indicators at an average of 50% are spotting the stock at Sell with its 50-day average volume of 2,565,684 shares. And to end, BTBT’s 100-day average volume is 2,966,166 shares with 50% of the long-term indicators pointing towards Sell for the stock.