BTBT Stock Summary and Trading Ideas (Bit Digital - Ordinary Share | NASDAQ:BTBT)

Bit Digital Inc is engaged in the Bitcoin mining business, Ethereum staking activities and specialized cloud-infrastructure services for artificial intelligence applications through its wholly owned subsidiaries.. Its mining platform operates with the primary intent of accumulating bitcoin which may sell for fiat currency from time to time depending on market conditions. It generates revenue from digital asset mining and ETH staking business.

Bit Digital - Ordinary Share trades on the NASDAQ stock market under the symbol BTBT.

As of November 15, 2024, BTBT stock price declined to $4.27 with 18,237,155 million shares trading.

BTBT has a beta of 3.19, meaning it tends to be more sensitive to market movements. BTBT has a correlation of 0.16 to the broad based SPY ETF.

BTBT has a market cap of $631.07 million. This is considered a Small Cap stock.

Last quarter Bit Digital - Ordinary Share reported $29 million in Revenue and -$.09 earnings per share. This beat revenue expectation by $3 million and missed earnings estimates by -$.06.

In the last 3 years, BTBT traded as high as $11.37 and as low as $.53.

The top ETF exchange traded funds that BTBT belongs to (by Net Assets): IWM, KOMP, WGMI, DAPP, BKCH.

BTBT has outperformed the market in the last year with a price return of +90.6% while the SPY ETF gained +31.8%. BTBT has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +49.3% and +19.9%, respectively, while the SPY returned +6.2% and +2.6%, respectively.

BTBT support price is $4.04 and resistance is $4.72 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BTBT shares will trade within this expected range on the day.