Fact based stock research
Bit Digital (NasdaqCM:BTBT)

KYG1144A1058

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Bit Digital stock research in summary

bit-digital.com

ANALYSIS: With an Obermatt Combined Rank of 57 (better than 57% compared with investment alternatives), Bit Digital (Application Software, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Bit Digital are a good value (attractively priced) with a consolidated Value Rank of 50 (better than 50% of alternatives), show above-average growth (Growth Rank of 96) but are riskily financed (Safety Rank of 48), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 57, is a buy recommendation based on Bit Digital's financial characteristics. As the company Bit Digital's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 50) and above-average growth (Obermatt Growth Rank of 96), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 48) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	50
Growth Rank	96
Safety Rank	48
Combined Rank	57

Country	USA
Industry	Application Software
Index	NASDAQ
Size class	X-Small

2-May-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Bit Digital

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	23	79	55	50
GROWTH
GROWTH	84	3	77	96
SAFETY
SAFETY	72	48	48	48
SENTIMENT
SENTIMENT	n/a	29	66	^new
360° VIEW
360° VIEW	n/a	23	63	^new

Most recent update of the stock research: 2-May-2024. Financial reporting date used for calculating ranks: 31-Dec-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better Bit Digital is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	23	79	55	50
GROWTH
GROWTH	84	3	77	96
SAFETY
SAFETY	72	48	48	48
COMBINED
COMBINED	82	57	57	57

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of Bit Digital the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 50 (better than 50% compared with alternatives), Bit Digital shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for Bit Digital. Price-to-Sales (P/S) is 79, which means that the stock price compared with what market professionals expect for future sales is lower than for 79% of comparable companies, indicating a good value concerning Bit Digital's revenue size. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio), which is more favorable than for 75% of alternatives (25% of peers have a higher ratio). But expected dividend yields with a Dividend Yield rank of 1 are lower than average (dividends are expected to be lower than 99% of other stocks) while the Price to Profit ratio (or Price to Earnings (P/E) ratio) is higher than average with a Price-to-Profit Rank of 27, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 50, is a buy recommendation based on Bit Digital's stock price compared with the company's operational size and dividend yields. Low profits and low dividends as seen here for Bit Digital may indicate a restructuring phase. This could be transitory, making the company a good value when profits recover and dividends return to higher levels. If the stock price is compared with the size indicators for revenue and invested capital, it is on the lower side, making this stock a good value investment (apart from current profit and dividend expectations). We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	36	72	73	79
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	76	92	92	27
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	20	70	65	75
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	23	79	55	50

Last update of Value Rank: 2-May-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Bit Digital; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 96 (better than 96% compared with alternatives) for 2022, Bit Digital shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all four indicators above average for Bit Digital. Sales Growth has a value of 86, which means that, currently, professionals expect the company to grow more than 86% of its competitors. The same is valid for Profit Growth with a value of 82 and for Capital Growth with 97. In addition, Stock Returns had an above-average rank value of 50, which means they have been higher than 50% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 96, is a buy recommendation for growth and momentum investors. Since all Growth Ranks are positive, Bit Digital exhibits above-average growth momentum. This could be due to a uniquely strong market position, proprietary technology, or an extensive corporate acquisition strategy. Growth investors will find this an attractive investment opportunity, unless they expect that the current phase is transitory and will deteriorate in the future. The current performance could also be a temporary recovery from a very low point, such as a turn-around situation. In the case of a turn-around, the current performance may or may not be followed by a continuing positive development. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	100	3	100	86
PROFIT GROWTH
PROFIT GROWTH	n/a	8	64	82
CAPITAL GROWTH
CAPITAL GROWTH	n/a	79	4	97
STOCK RETURNS
STOCK RETURNS	2	7	99	50
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	84	3	77	96

Last update of Growth Rank: 2-May-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Bit Digital.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 48 (better than 48% compared with alternatives), the company Bit Digital has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Bit Digital is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, where all three are above average for Bit Digital. Leverage is at 100, meaning the company has a below-average debt-to-equity ratio. It has less debt than 100% of its competitors. Refinancing is at a rank of 85, meaning that the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 85% of its competitors. Finally, Liquidity is also good at a rank of 65, which means that the company generates more profit to service its debt than 65% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 48 (worse than 52% compared with alternatives), Bit Digital has a financing structure that is riskier than that of its competitors. These three positive financing indicators signal that the company is less likely to default on its debt obligations. However, it also means that its shareholder returns will be more modest if things go well. A low safety means fewer troubles in downtimes and less upside in good times. Investors may not have a debt issue with Bit Digital but they should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	64	100	100	100
REFINANCING
REFINANCING	50	79	93	85
LIQUIDITY
LIQUIDITY	47	65	65	65
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	72	48	48	48

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Bit Digital and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	58	73	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	11	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	67	66	^new
MARKET PULSE
MARKET PULSE	n/a	4	74	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	29	66	^new

Last update of Sentiment Rank: 2-May-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Bit Digital.
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