Here's Why Bit Digital, Inc. (BTBT) Fell More Than Broader Market

Company Performance - Bit Digital, Inc. (BTBT) experienced a stock decline of 1.59% to $3.09, which was less than the S&P 500's daily loss of 0.55% [1] - Over the past month, the company's shares gained 12.95%, outperforming the Business Services sector's gain of 0.72% and the S&P 500's gain of 3.64% [1] Earnings Expectations - The upcoming earnings report for Bit Digital, Inc. is expected to show an EPS of $0, representing a 100% increase compared to the same quarter last year [2] - Revenue is anticipated to be $30.82 million, reflecting a 35.69% increase from the prior-year quarter [2] Full Year Projections - For the full year, Zacks Consensus Estimates project earnings of -$0.2 per share and revenue of $117.02 million, indicating changes of +28.57% and +8.3% respectively from the previous year [3] - Recent changes to analyst estimates for Bit Digital, Inc. may indicate shifting business dynamics, with positive revisions suggesting analysts' confidence in the company's performance [3] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Bit Digital, Inc. at 3 (Hold) [5] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 91, placing it in the top 37% of over 250 industries [6] - Strong individual industry groups, as measured by the Zacks Industry Rank, tend to outperform weaker groups by a factor of 2 to 1 [6]