Q: What is Bit Digital, Inc. 2024/Q3 Earnings Preview?
TigerGPT Answer: ### Financial Forecast Data
**Earnings Per Share (EPS):**
- Forecast for Q3 2024: -$0.02
- Actual for Q3 2023: -$0.08
- Percentage Change: +75%
**Total Revenue:**
- Forecast for Q3 2024: $25,940,000
- Actual for Q3 2023: $11,560,000
- Percentage Change: +124.32%
**EBIT:**
- Forecast for Q3 2024: -$2,965,200
- Actual for Q3 2023: -$7,001,000
- Percentage Change: +57.64%
**Significance of Changes:**
The significant improvement in EPS and EBIT indicates better cost management and operational efficiency. The substantial increase in total revenue suggests strong growth and market demand for Bit Digital, Inc.'s services.
### Quarterly Important News
1. **November 9, 2024:** Bit Digital (BTBT) stock rose by 2.17%, closing at $4.23 per share with a trading volume of $41.24 million. Financial data showed a total revenue of $59.24 million as of June 30, 2024, a 242.36% year-over-year increase, and a net profit of $38.13 million, a 913.45% increase.
2. **November 12, 2024:** Bit Digital (BTBT) stock increased by 5.17%, closing at $5.70 per share with a trading volume of $50.29 million. The company reported a total revenue of $59.24 million as of June 30, 2024, a 242.36% year-over-year increase, and a net profit of $38.13 million, a 913.45% increase.
3. **November 14, 2024:** Bit Digital (BTBT) stock decreased by 5.06%, closing at $4.405 per share with a trading volume of $37.33 million. The company is set to disclose its Q3 2024 financial report on November 18, 2024.
**Impact Analysis:**
The positive news of revenue and profit growth has led to stock price increases, reflecting investor confidence. However, the stock price drop on November 14 suggests market volatility and potential profit-taking ahead of the financial report release.
### Forecast Viewpoints
- **Bit Digital Inc expected to post a loss of 2 cents a share - Earnings Preview:** Bit Digital Inc expected to post a loss of 2 cents a share - Earnings Preview
### Stock Trend Analysis
- **Latest Stock Price (as of November 15, 2024):** $4.4389
- **Support Price (as of November 13, 2024):** $4.93
- **Resistance Price (as of November 13, 2024):** $2.91
- **Quarterly Stock Price Fluctuation (June 30, 2024 - September 28, 2024):** 14.47%
**Analysis:**
The stock price has shown significant volatility, with a notable increase followed by a decrease. The support level at $4.93 and resistance level at $2.91 indicate potential price stabilization. The current price of $4.4389 suggests a bearish trend, but the upcoming financial report could influence future movements.
### Options Large Order Analysis
- **Call Options:**
- BTBT 20260116 3.0 call (Sell)
- BTBT 20250516 4.0 call (Sell)
- BTBT 20250221 5.5 call (Buy)
- BTBT 20241115 3.5 call (Sell)
- BTBT 20250117 7.0 call (Sell)
**Analysis:**
The majority of large orders are sell orders for call options, indicating a bearish sentiment among options traders. This suggests a lower probability of the financial report exceeding expectations.
### Analyst Ratings and Target Price Forecast
- **Analyst Recommendations:** 1 recommend, 4 buy
- **Target Price Estimates:** Mean: $5.86, Low: $4.8, High: $7.0
**Valuation Status:**
Based on the target price estimates, Bit Digital, Inc. appears to be undervalued at its current price of $4.4389. Analysts' positive recommendations and higher target prices suggest potential upside following the financial report.
### Comprehensive Conclusion
Bit Digital, Inc. is expected to show significant improvements in EPS, revenue, and EBIT for Q3 2024 compared to the same period last year. Positive news and strong financial performance have driven stock price increases, although recent volatility indicates market caution. The majority of options large orders are bearish, but analyst ratings and target prices suggest the stock is undervalued and has potential for growth. Investors should monitor the upcoming financial report for further insights.
**Disclaimer:** The above content is generated by the AI robot TigerGPT and does not represent any personal views. The content is for reference only and does not constitute any investment advice.
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