Taking this into account, B. Riley Securities initiated its Bit Digital Inc [BTBT] rating to a Buy in a research note published on October 24, 2024; the price target was $6. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid February with a ‘”an Outperform”‘ rating. H.C. Wainwright began covering BTBT with “Buy” recommendation on September 23, 2021.
Price Performance Review of BTBT
On Tuesday, Bit Digital Inc [NASDAQ:BTBT] saw its stock jump 1.85% to $5.52. Over the last five days, the stock has gained 57.71%. Bit Digital Inc shares have risen nearly 30.50% since the year began. Nevertheless, the stocks have risen 164.11% over the past one year. While a 52-week high of $5.51 was reached on 11/12/24, a 52-week low of $1.76 was recorded on 04/17/24. SMA at 50 days reached $3.52, while 200 days put it at $2.97.
Levels Of Support And Resistance For BTBT Stock
The 24-hour chart illustrates a support level at 5.21, which if violated will result in even more drops to 4.89. On the upside, there is a resistance level at 5.79. A further resistance level may holdings at 6.05. The Relative Strength Index (RSI) on the 14-day chart is 73.65, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.28%. Stochastics %K at 87.51% indicates the stock is a selling.
How much short interest is there in Bit Digital Inc?
A steep rise in short interest was recorded in Bit Digital Inc stocks on 2024-10-15, growing by 2.56 million shares to a total of 26.48 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 23.91 million shares. There was a rise of 9.68%, which implies that there is a positive sentiment for the stock.
