Bit Digital Stock Net Income
| BTBT Stock | USD 2.04 0.11 5.12% |
Bit Digital fundamentals help investors to digest information that contributes to Bit Digital's financial success or failures. It also enables traders to predict the movement of Bit Stock. The fundamental analysis module provides a way to measure Bit Digital's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Bit Digital stock.
| Last Reported | Projected for Next Year | ||
| Net Income Applicable To Common Shares | 5.6 M | 5.9 M | |
| Net Loss | -13.9 M | -14.6 M | |
| Net Loss | -13.9 M | -14.6 M | |
| Net Loss | (0.16) | (0.17) | |
| Net Income Per E B T | 1.02 | 0.55 |
Bit | Net Income |
Bit Digital Company Net Income Analysis
Bit Digital's Net income is the profit of a company for the reporting period, which is derived after taking revenues and gains and subtracting all expenses and losses. Net income is one of the most-watched numbers by money managers as well as individual investors.
Current Bit Digital Net Income | (13.89 M) |
Most of Bit Digital's fundamental indicators, such as Net Income, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Bit Digital is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Bit Net Income Driver Correlations
Understanding the fundamental principles of building solid financial models for Bit Digital is extremely important. It helps to project a fair market value of Bit Stock properly, considering its historical fundamentals such as Net Income. Since Bit Digital's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Bit Digital's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Bit Digital's interrelated accounts and indicators.
Because income is reported on the Income Statement of a company and is measured in dollars some investors prefer to use Profit Margin, which measures income as a percentage of sales.
| Competition |
Bit Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income |
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Based on the recorded statements, Bit Digital reported net income of (13.89 Million). This is 101.09% lower than that of the Software sector and 101.36% lower than that of the Information Technology industry. The net income for all United States stocks is 102.43% higher than that of the company.
Bit Net Income Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Bit Digital's direct or indirect competition against its Net Income to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Bit Digital could also be used in its relative valuation, which is a method of valuing Bit Digital by comparing valuation metrics of similar companies.Bit Digital is currently under evaluation in net income category among related companies.
Bit Digital Institutional Holders
Institutional Holdings refers to the ownership stake in Bit Digital that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Bit Digital's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Bit Digital's value.| Shares | Vanguard Group Inc | 2023-12-31 | 621.8 K | Morgan Stanley - Brokerage Accounts | 2023-12-31 | 611.6 K | Susquehanna International Group, Llp | 2023-12-31 | 573.4 K | Northern Trust Corp | 2023-12-31 | 571.4 K | Quadrature Capital Llp | 2023-12-31 | 518 K | Jane Street Group, Llc | 2023-12-31 | 508.9 K | Nomura Holdings Inc | 2023-12-31 | 374.1 K | Redmond Asset Management, Llc | 2023-12-31 | 270.9 K | Nuveen Asset Management, Llc | 2023-12-31 | 266.2 K | Amvescap Plc. | 2023-12-31 | 7.4 M | Blackrock Inc | 2023-12-31 | 7.4 M |
Bit Fundamentals
| Return On Equity | -0.11 | ||||
| Return On Asset | -0.12 | ||||
| Profit Margin | (0.31) % | ||||
| Operating Margin | (0.60) % | ||||
| Current Valuation | 229.08 M | ||||
| Shares Outstanding | 118.12 M | ||||
| Shares Owned By Insiders | 0.93 % | ||||
| Shares Owned By Institutions | 42.87 % | ||||
| Number Of Shares Shorted | 20.75 M | ||||
| Price To Earning | 12.29 X | ||||
| Price To Book | 1.69 X | ||||
| Price To Sales | 5.42 X | ||||
| Revenue | 44.92 M | ||||
| Gross Profit | 65.34 M | ||||
| EBITDA | (12.31 M) | ||||
| Net Income | (13.89 M) | ||||
| Cash And Equivalents | 44.3 M | ||||
| Cash Per Share | 0.54 X | ||||
| Total Debt | 6.22 M | ||||
| Debt To Equity | 0.02 % | ||||
| Current Ratio | 19.15 X | ||||
| Book Value Per Share | 1.34 X | ||||
| Cash Flow From Operations | 1.11 M | ||||
| Short Ratio | 2.82 X | ||||
| Earnings Per Share | (0.16) X | ||||
| Target Price | 5.08 | ||||
| Number Of Employees | 24 | ||||
| Beta | 4.82 | ||||
| Market Capitalization | 253.96 M | ||||
| Total Asset | 189.33 M | ||||
| Retained Earnings | (146.91 M) | ||||
| Working Capital | 56.26 M | ||||
| Net Asset | 189.33 M |
About Bit Digital Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Bit Digital's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Bit Digital using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Bit Digital based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Bit Digital
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bit Digital position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bit Digital will appreciate offsetting losses from the drop in the long position's value.Moving together with Bit Stock
| 0.74 | G | Genpact Limited Financial Report 8th of May 2024 | PairCorr |
| 0.76 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
Moving against Bit Stock
| 0.6 | NN | Nextnav Acquisition Corp Financial Report 8th of May 2024 | PairCorr |
| 0.59 | MU | Micron Technology Financial Report 26th of June 2024 | PairCorr |
| 0.45 | GB | Global Blue Group | PairCorr |
The ability to find closely correlated positions to Bit Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bit Digital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bit Digital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bit Digital to buy it.
The correlation of Bit Digital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bit Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bit Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bit Digital can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Bit Digital Piotroski F Score and Bit Digital Altman Z Score analysis. For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.Note that the Bit Digital information on this page should be used as a complementary analysis to other Bit Digital's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Complementary Tools for Bit Stock analysis
When running Bit Digital's price analysis, check to measure Bit Digital's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bit Digital is operating at the current time. Most of Bit Digital's value examination focuses on studying past and present price action to predict the probability of Bit Digital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bit Digital's price. Additionally, you may evaluate how the addition of Bit Digital to your portfolios can decrease your overall portfolio volatility.
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Is Bit Digital's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Bit Digital. If investors know Bit will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Bit Digital listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.16) | Revenue Per Share 0.513 | Quarterly Revenue Growth 1.064 | Return On Assets (0.12) | Return On Equity (0.11) |
The market value of Bit Digital is measured differently than its book value, which is the value of Bit that is recorded on the company's balance sheet. Investors also form their own opinion of Bit Digital's value that differs from its market value or its book value, called intrinsic value, which is Bit Digital's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bit Digital's market value can be influenced by many factors that don't directly affect Bit Digital's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bit Digital's value and its price as these two are different measures arrived at by different means. Investors typically determine if Bit Digital is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bit Digital's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.