As this happened, 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.
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Price Performance Review of BTBT
On Tuesday, Bit Digital Inc [NASDAQ:BTBT] saw its stock fall -12.00% to $3.74. Over the last five days, the stock has lost -7.20%. Bit Digital Inc shares have fallen nearly -11.58% since the year began. Nevertheless, the stocks have risen 60.52% over the past one year. While a 52-week high of $5.74 was reached on 11/12/24, a 52-week low of $1.76 was recorded on 04/17/24. SMA at 50 days reached $3.80, while 200 days put it at $3.05.
Levels Of Support And Resistance For BTBT Stock
The 24-hour chart illustrates a support level at 3.58, which if violated will result in even more drops to 3.43. On the upside, there is a resistance level at 4.00. A further resistance level may holdings at 4.27. The Relative Strength Index (RSI) on the 14-day chart is 44.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.56%. Stochastics %K at 24.61% indicates the stock is a holding.
How much short interest is there in Bit Digital Inc?
A steep rise in short interest was recorded in Bit Digital Inc stocks on 2024-10-31, dropping by -0.25 million shares to a total of 25.69 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 25.94 million shares. There was a decline of -0.97%, which implies that there is a negative sentiment for the stock.
