Stronghold Digital Mining, Inc. (NASDAQ:SDIG – Get Free Report) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 494,600 shares, a drop of 28.2% from the August 31st total of 689,100 shares. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 4.0% of the shares of the stock are short sold.
Stronghold Digital Mining Stock Up 1.4 %
SDIG traded up $0.07 during midday trading on Friday, hitting $5.24. The company had a trading volume of 495,625 shares, compared to its average volume of 561,746. The stock’s 50 day moving average price is $3.92 and its 200 day moving average price is $3.69. The company has a market capitalization of $88.50 million, a price-to-earnings ratio of -1.11 and a beta of 2.90. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. Stronghold Digital Mining has a 52 week low of $1.65 and a 52 week high of $11.56.
Stronghold Digital Mining (NASDAQ:SDIG – Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.33). Stronghold Digital Mining had a positive return on equity of 40.15% and a negative net margin of 7.61%. The firm had revenue of $19.10 million for the quarter, compared to analyst estimates of $20.15 million. On average, research analysts anticipate that Stronghold Digital Mining will post -2.07 earnings per share for the current fiscal year.
Insider Activity at Stronghold Digital Mining
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Armistice Capital LLC purchased a new position in shares of Stronghold Digital Mining during the fourth quarter valued at approximately $7,300,000. Thomist Capital Management LP purchased a new stake in shares of Stronghold Digital Mining in the second quarter valued at about $485,000. Nomura Holdings Inc. purchased a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at about $404,000. XTX Topco Ltd bought a new position in shares of Stronghold Digital Mining during the second quarter valued at about $130,000. Finally, Virtu Financial LLC purchased a new position in Stronghold Digital Mining during the first quarter worth about $71,000. Institutional investors and hedge funds own 19.33% of the company’s stock.
Analyst Ratings Changes
SDIG has been the subject of several research analyst reports. B. Riley lifted their price objective on Stronghold Digital Mining from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. HC Wainwright reiterated a “neutral” rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd.
View Our Latest Research Report on Stronghold Digital Mining
Stronghold Digital Mining Company Profile
Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.
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