Bit Digital Inc (NASDAQ:BTBT) shares, rose in value, with the stock price down by -0.45% to the previous day’s close as strong demand from buyers drove the stock to $2.23.
Actively observing the price movement in the last trading, the stock closed the session at $2.24. Referring to stock’s 52-week performance, its high was $5.27, and the low was $1.61. On the whole, BTBT has fluctuated by -2.19% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 108.79M, with a low estimate of 23.5M and a high estimate of 32.7M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 27.73M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BTBT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BTBT currently trading nearly -1.04% and -9.11% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.35, while the 7-day volatility ratio is showing 9.23% which for the 30-day chart, stands at 8.95%. Furthermore, Bit Digital Inc (BTBT)’s average true range (ATR) is 0.20.
A comparison of Bit Digital Inc (BTBT) with its peers suggests the former has fared considerably weaker in the market. BTBT showed an intraday change of -0.45% in last session, and over the past year, it grew by 35.15%%.
Data on historical trading for Bit Digital Inc (NASDAQ:BTBT) indicates that the trading volumes over the past 3 months, they’ve averaged 7.75 million. According to company’s latest data on outstanding shares, there are 118.12 million shares outstanding.
Nearly 0.63% of Bit Digital Inc’s shares belong to company insiders and institutional investors own 31.62% of the company’s shares. The stock has fallen by -47.28% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BTBT stock heading into the next quarter.
