Digi Power X (NASDAQ:DGXX) Trading Down 6.4% – Time to Sell?

Digi Power X Inc. (NASDAQ:DGXX)’s share price traded down 6.4% during mid-day trading on Wednesday . The stock traded as low as $7.41 and last traded at $7.58. 5,312,885 shares were traded during trading, a decline of 14% from the average session volume of 6,149,847 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Digi Power X presently has an average rating of “Hold” and a consensus price target of $4.00.

Digi Power X Trading Down 2.6%

The stock has a market capitalization of $551.43 million, a price-to-earnings ratio of -12.12 and a beta of 5.85. The company has a fifty day moving average of $4.37 and a two-hundred day moving average of $3.48.

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

Insider Activity at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $3.56, for a total transaction of $97,900.00. Following the completion of the transaction, the president directly owned 1,368,949 shares in the company, valued at $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,000 shares of company stock worth $160,032 in the last three months.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Members Advisory Group LLC lifted its holdings 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 buying an additional 4,310 shares during the last quarter. PFG Investments LLC acquired a new position in shares of Digi Power X during the fourth quarter worth approximately $26,000. Commonwealth Equity Services LLC acquired a new position in shares of Digi Power X during the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Digi Power X during the fourth quarter worth approximately $29,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Digi Power X during the fourth quarter worth approximately $29,000. 1.93% of the stock is currently owned by institutional investors and hedge funds.

Digi Power X Company Profile

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.