Strategy Inc. (NASDAQ:MSTR) will report its second-quarter earnings after the market close on Thursday. Here’s a quick overview of what’s going on with the company and its stock.
Strategy To Report Loss Again?
Analysts estimate the Bitcoin (CRYPTO: BTC) holding giant to report a loss of $2.19 per share, according to data from TradingView and FactSet.
The company is expected to announce quarterly revenue of $121.88 million, reflecting an increase of 6.40% from the same quarter last year.
The MSTR stock has a consensus price target of $360 with a “Buy” rating, implying a potential upside of 294.2% from current levels.
Barclays began coverage of the stock earlier this month, assigning an “Overweight” rating and a price target of $130. This means an expert believes the stock will do better than its industry peers or the overall market.
Read Also:Bitcoin Holds Ground, Meme Coins Diverge, CLARITY Act Looms Large and More: This Week in Crypto
MSTR Stock Leaning Bearish Or Bullish?
Short interest in the MSTR stock rose to $42.80 million, now representing 12.70% of total float, indicating a “rising bearish” outlook.
View more earnings on MSTR
The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a “Buy” signal for MSTR, according to TradingView. The Relative Strength Index hovered just below 40, implying a “Neutral” condition.
Strategy holds 843,775 BTC valued at over $55 billion, currently sitting on paper losses of more than $8 billion. Bitcoin fell over 14% in the second quarter, sparking concerns over the impact on Strategy’s revenue and profitability.
Will Saylor Resume BTC Purchases?
The company has halted Bitcoin purchases for a month, selling 3,620 BTC to bolster its cash reserve to $3.225 billion.
As is his Sunday custom, Saylor posted a StrategyTracker chart highlighting each purchase against Bitcoin’s price history.
“We’re gonna need another color,” he wrote,…
..
