Ionic Digital Inc. (NASDAQ:IOND) Stock Short Interest Report for September

Ionic Digital Inc. (NASDAQ:IOND) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 1,682,848 shares, a growth of 114.6% from the September 15th total of 784,132 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 981,987 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Ionic Digital from a “hold” rating to a “sell” rating in a research report on Sunday, September 27th. Jefferies Financial Group started coverage on shares of Ionic Digital in a research note on Monday, August 24th. They set a “buy” rating and a $85.00 price objective for the company. Finally, BTIG Research began coverage on shares of Ionic Digital in a report on Monday, August 24th. They issued a “buy” rating and a $85.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Ionic Digital currently has an average rating of “Buy” and a consensus target price of $85.00.

Ionic Digital Stock Down 6.3%

IOND stock traded down $4.21 during trading on Thursday, reaching $63.12. 477,438 shares of the stock were exchanged, compared to its average volume of 744,298. The stock has a 50 day simple moving average of $75.36. Ionic Digital has a 1 year low of $50.00 and a 1 year high of $89.36. The stock has a market cap of $2.84 billion and a price-to-earnings ratio of -48.92.

Ionic Digital (NASDAQ:IOND) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($0.94) earnings per share for the quarter. The firm had revenue of $48.65 million for the quarter.

Ionic Digital Company Profile

Ionic Digital, Inc is a digital asset mining company focused primarily on bitcoin mining. The company operates and develops specialized data center infrastructure and computing capacity designed to support proof-of-work blockchain networks, with bitcoin as its principal mined asset.

Ionic Digital was established in connection with the restructuring of Celsius Network and the distribution of certain mining assets to Celsius creditors. Its operations have been associated with mining facilities in the United States, including sites in Texas and New York.