In the latest trading session, Bit Digital, Inc. (BTBT) closed at $1.54, marking a -5.52% move from the previous day. This change lagged the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.05%.
Shares of the company have depreciated by 0.61% over the course of the past month, outperforming the Business Services sector's loss of 4.68%, and lagging the S&P 500's gain of 0.55%.
Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.05, signifying steadiness compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.19 million, up 12.25% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.78 per share and revenue of $152.43 million. These totals would mark changes of -239.13% and +34.17%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Bit Digital, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.63% higher. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 172, placing it within the bottom 31% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bit Digital, Inc. (BTBT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).