Digi Power X (NASDAQ:DGXX) Sees Large Volume Increase – Still a Buy?

Digi Power X Inc. (NASDAQ:DGXX) shares saw strong trading volume on Wednesday . 5,618,304 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 6,393,074 shares.The stock last traded at $8.01 and had previously closed at $7.86.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Finally, Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.00.

Digi Power X Stock Performance

The company has a market capitalization of $541.73 million, a PE ratio of -11.94 and a beta of 6.19. The stock’s fifty day simple moving average is $4.59 and its 200-day simple moving average is $3.52.

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

Insider Transactions at Digi Power X

In other Digi Power X news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 55,000 shares of company stock valued at $160,032.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in Digi Power X in the 4th quarter valued at about $26,000. Commonwealth Equity Services LLC acquired a new position in Digi Power X in the fourth quarter valued at $29,000. Creative Financial Designs Inc. ADV acquired a new position in Digi Power X in the fourth quarter valued at $29,000. J.W. Cole Advisors Inc. acquired a new position in Digi Power X in the fourth quarter valued at $29,000. Finally, Advisory Services Network LLC acquired a new position in Digi Power X in the fourth quarter valued at $37,000. 1.93% of the stock is currently owned by hedge funds and other institutional investors.

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.