Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Up 29.8% in September

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 641,800 shares, a growth of 29.8% from the September 15th total of 494,600 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 5.2% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, CFO Matthew J. Smith sold 9,170 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total transaction of $40,806.50. Following the transaction, the chief financial officer now owns 159,598 shares of the company’s stock, valued at approximately $710,211.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Matthew J. Smith sold 9,170 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $4.45, for a total value of $40,806.50. Following the completion of the sale, the chief financial officer now owns 159,598 shares of the company’s stock, valued at approximately $710,211.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory A. Beard sold 15,259 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $4.06, for a total transaction of $61,951.54. Following the transaction, the chief executive officer now owns 391,437 shares in the company, valued at approximately $1,589,234.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,950 shares of company stock worth $336,271 in the last ninety days. 47.55% of the stock is owned by company insiders.

Institutional Trading of Stronghold Digital Mining

Large investors have recently added to or reduced their stakes in the company. Thomist Capital Management LP purchased a new stake in Stronghold Digital Mining in the second quarter valued at approximately $485,000. Nomura Holdings Inc. acquired a new stake in Stronghold Digital Mining during the 4th quarter valued at approximately $404,000. XTX Topco Ltd purchased a new stake in shares of Stronghold Digital Mining in the 2nd quarter valued at $130,000. Virtu Financial LLC acquired a new stake in shares of Stronghold Digital Mining in the first quarter worth $71,000. Finally, Western Wealth Management LLC purchased a new position in shares of Stronghold Digital Mining during the second quarter worth $59,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

SDIG has been the subject of a number of recent research reports. HC Wainwright reiterated a “neutral” rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd. B. Riley upped their price target 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.

Stronghold Digital Mining Stock Down 3.7 %

Shares of SDIG stock traded down $0.16 during trading hours on Tuesday, reaching $4.20. 550,870 shares of the company’s stock were exchanged, compared to its average volume of 973,732. Stronghold Digital Mining has a 1 year low of $1.65 and a 1 year high of $11.56. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a market cap of $64.56 million, a PE ratio of -0.92 and a beta of 2.90. The stock’s fifty day moving average price is $4.22 and its two-hundred day moving average price is $3.72.

Stronghold Digital Mining (NASDAQ:SDIG) last released its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.33). The company had revenue of $19.10 million for the quarter, compared to analysts’ expectations of $20.15 million. Stronghold Digital Mining had a positive return on equity of 40.15% and a negative net margin of 7.61%. Research analysts predict that Stronghold Digital Mining will post -2.07 EPS for the current year.

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.