Latest news with #BTBT
Yahoo
5 days ago
- Business
- Yahoo
Bit Digital, Inc. (BTBT) Reports Q2 Loss, Beats Revenue Estimates
Bit Digital, Inc. (BTBT) came out with a quarterly loss of $0.03 per share in line with the Zacks Consensus Estimate. This compares to a loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post a loss of $0.05 per share when it actually produced a loss of $0.05, delivering no surprise. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Bit Digital, which belongs to the Zacks Technology Services industry, posted revenues of $25.7 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.38%. This compares to year-ago revenues of $28.95 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Bit Digital shares have added about 8.2% since the beginning of the year versus the S&P 500's gain of 10%. What's Next for Bit Digital? While Bit Digital has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Bit Digital was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $34.12 million in revenues for the coming quarter and -$0.31 on $121.9 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Skillsoft Corp. (SKIL), is yet to report results for the quarter ended July 2025. This company is expected to post quarterly loss of $2.10 per share in its upcoming report, which represents a year-over-year change of +12.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Skillsoft Corp.'s revenues are expected to be $129.24 million, down 2.3% from the year-ago quarter. 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 Report Skillsoft Corp. (SKIL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
21-07-2025
- Business
- Yahoo
Brokers Suggest Investing in Bit Digital (BTBT): Read This Before Placing a Bet
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Bit Digital, Inc. (BTBT). Bit Digital currently has an average brokerage recommendation (ABR) of 1.00, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by five brokerage firms. An ABR of 1.00 indicates Strong Buy. Of the five recommendations that derive the current ABR, five are Strong Buy, representing 100% of all recommendations. Brokerage Recommendation Trends for BTBT Check price target & stock forecast for Bit Digital here>>> While the ABR calls for buying Bit Digital, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential. Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation. In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement. Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision. Zacks Rank Should Not Be Confused With ABR Although both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether. The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5. It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them. On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks. Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements. Should You Invest in BTBT? In terms of earnings estimate revisions for Bit Digital, the Zacks Consensus Estimate for the current year has declined 90% over the past month to -$0.32. Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Bit Digital. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> Therefore, it could be wise to take the Buy-equivalent ABR for Bit Digital with a grain of salt. 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 Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
19-07-2025
- Business
- Yahoo
Bit Digital, Inc. (BTBT) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, Bit Digital, Inc. (BTBT) closed at $3.84, marking a -4.24% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.01% for the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.05%. Prior to today's trading, shares of the company had gained 66.39% outpaced the Business Services sector's loss of 0.27% and the S&P 500's gain of 5.37%. Investors will be eagerly watching for the performance of Bit Digital, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.02, indicating a 100% decline compared to the equivalent quarter last year. For the full year, the Zacks Consensus Estimates project earnings of -$0.32 per share and a revenue of $123.6 million, demonstrating changes of -14.29% and +14.39%, respectively, from the preceding year. Investors should also note any recent changes to analyst estimates for Bit Digital, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 90% decrease. Currently, Bit Digital, Inc. is carrying a Zacks Rank of #3 (Hold). The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 29% of over 250 industries. The Zacks Industry Rank gauges the strength of our 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 to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. 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 Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-07-2025
- Business
- Yahoo
Bit Digital, Inc. (BTBT) Beats Stock Market Upswing: What Investors Need to Know
Bit Digital, Inc. (BTBT) ended the recent trading session at $4.01, demonstrating a +2.04% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.74%. Prior to today's trading, shares of the company had gained 63.07% outpaced the Business Services sector's loss of 1.28% and the S&P 500's gain of 4.2%. Analysts and investors alike will be keeping a close eye on the performance of Bit Digital, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.02, marking a 100% fall compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates project earnings of -$0.32 per share and a revenue of $123.6 million, demonstrating changes of -14.29% and +14.39%, respectively, from the preceding year. Investors should also pay attention to any latest changes in analyst estimates for Bit Digital, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 90% lower. Bit Digital, Inc. presently features a Zacks Rank of #3 (Hold). The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 28% of all industries, numbering over 250. 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. To follow BTBT in the coming trading sessions, be sure to utilize 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 Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-07-2025
- Business
- Yahoo
BTBT Boosted by Additional Share Purchase
Bit Digital, Inc. (NASDAQ:BTBT) is among the . Earlier last week, Bit Digital, Inc. (NASDAQ:BTBT) announced that the underwriters of its previous public offering have proceeded to acquire an additional 11.25 million ordinary shares, worth around $21.4 million. The option was fully exercised, with a total of 86.25 million shares sold during the public offering. After accounting for underwriting discounts and estimated expenses, Bit Digital, Inc. (NASDAQ:BTBT) generated roughly $162.9 million in net proceeds. The timing of this capital raise is quite noteworthy, as the company plans to purchase Ethereum. A testament to the company's growth efforts is the stock's 66.98% rise in the past five days. A team of technicians working on a server of bitcoin mining equipment in a data center. The company is parting ways with Bitcoin and shifting its focus towards high-margin ETH staking and HPC services. The reason why BTBT is considered a 'get-rich stock' is that it is now closely tied to ETH price volatility, and with just one jump, Bit Digital, Inc. (NASDAQ:BTBT) will likely move past its rough days. Bit Digital, Inc. (NASDAQ:BTBT) is a New York-based bitcoin mining business that was incorporated in 2015. The company designs, develops, and manages high-performance computing (HPC) data centers offering not only hosting and colocation services but also cloud-based HPC graphics processing units for AI and machine learning developers. While we acknowledge the potential of BTBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . While we acknowledge the potential of BTBT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BTBT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
