Digi Power X Target of Unusually Large Options Trading (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of some unusual options trading on Thursday. Stock traders acquired 13,340 put options on the stock. This is an increase of approximately 68% compared to the average volume of 7,951 put options.

Digi Power X Trading Up 7.7%

Shares of NASDAQ DGXX traded up $0.61 during mid-day trading on Thursday, reaching $8.62. 6,266,251 shares of the company’s stock were exchanged, compared to its average volume of 6,199,270. The firm has a market capitalization of $602.04 million, a price-to-earnings ratio of -13.34 and a beta of 5.85. The business has a fifty day simple moving average of $4.26 and a 200 day simple moving average of $3.45. Digi Power X has a twelve month low of $1.18 and a twelve month high of $9.20.

Digi Power X (NASDAQ:DGXX) last released its quarterly earnings results on Friday, May 15th. The company reported $999.00 EPS for the quarter. The company had revenue of $6.79 million for the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.

Insiders Place Their Bets

In other Digi Power X news, President Alec Amar sold 27,500 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,000 shares of company stock valued at $160,032 over the last quarter.

Institutional Investors Weigh In On Digi Power X

Hedge funds have recently modified their holdings of the business. Weiss Asset Management LP acquired a new stake in shares of Digi Power X during the first quarter worth about $540,000. Dimensional Fund Advisors LP raised its position in shares of Digi Power X by 29.2% during the first quarter. Dimensional Fund Advisors LP now owns 140,081 shares of the company’s stock worth $284,000 after purchasing an additional 31,666 shares during the period. Members Advisory Group LLC raised its position in shares of Digi Power X by 6.6% during the first quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock worth $142,000 after purchasing an additional 4,310 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Digi Power X during the first quarter worth about $34,000. Finally, Sovereign Financial Group Inc. acquired a new stake in shares of Digi Power X during the first quarter worth about $39,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DGXX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Digi Power X currently has a consensus rating of “Hold” and a consensus price target of $4.00.

About Digi Power X

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.