Digi Power X (NASDAQ:DGXX) Stock: Insider Michel Amar Purchases 20,000 Shares

Digi Power X Inc. (NASDAQ:DGXX) CEO Michel Amar bought 20,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were acquired at an average cost of $2.76 per share, for a total transaction of $55,200.00. Following the purchase, the chief executive officer owned 1,719,885 shares of the company’s stock, valued at approximately $4,746,882.60. The trade was a 1.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Michel Amar also recently made the following trade(s):

• On Wednesday, August 19th, Michel Amar acquired 20,000 shares of Digi Power X stock. The stock was acquired at an average cost of $3.60 per share, for a total transaction of $72,000.00.

Digi Power X Stock Performance

Digi Power X stock traded down $0.17 during mid-day trading on Friday, hitting $2.62. The company’s stock had a trading volume of 1,902,615 shares, compared to its average volume of 2,952,956. The company has a 50 day moving average of $3.76 and a 200-day moving average of $4.58. The stock has a market cap of $265.67 million, a PE ratio of -4.85 and a beta of 6.24. Digi Power X Inc. has a one year low of $1.86 and a one year high of $9.20.

Digi Power X (NASDAQ:DGXX) last released its earnings results on Friday, August 14th. The company reported ($0.17) earnings per share for the quarter. The business had revenue of $6.63 million for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%.

Institutional Investors Weigh In On Digi Power X

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Weiss Asset Management LP acquired a new position in shares of Digi Power X in the first quarter worth about $540,000. Members Advisory Group LLC lifted its stake in Digi Power X by 265.5% during the second quarter. Members Advisory Group LLC now owns 255,468 shares of the company’s stock worth $1,392,000 after purchasing an additional 185,581 shares in the last quarter. Engineers Gate Manager LP increased its stake in Digi Power X by 91.4% during the second quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock worth $535,000 after purchasing an additional 46,851 shares during the period. Bank of America Corp DE boosted its position in Digi Power X by 5,228.9% in the 1st quarter. Bank of America Corp DE now owns 43,484 shares of the company’s stock valued at $88,000 after buying an additional 42,668 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Digi Power X by 29.2% during the 1st 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 in the last quarter. 1.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a report on Friday, August 14th. Wall Street Zen downgraded shares of Digi Power X from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

About Digi Power X

Digi Power X, Inc (NASDAQ: DGXX) is a vertically integrated technology and digital infrastructure company focused on energy-intensive computing. Its primary business includes cryptocurrency mining, particularly Bitcoin mining, supported by the development and operation of data center and power infrastructure.

The company is also expanding its platform to support high-performance computing and artificial intelligence applications. Its activities include securing power capacity, developing computing facilities, and deploying specialized hardware for digital asset mining and other computational workloads.

Digi Power X was formerly known as Digihost Technology Inc and adopted its current name as part of an effort to broaden its focus beyond cryptocurrency mining.