Digi Power X (NASDAQ:DGXX) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Digi Power X (NASDAQ:DGXX) issued its quarterly earnings data on Tuesday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17), Zacks reports. The company had revenue of $8.65 million for the quarter, compared to the consensus estimate of $6.80 million. Digi Power X had a negative net margin of 39.25% and a negative return on equity of 47.17%.

Digi Power X Stock Performance

Shares of NASDAQ DGXX traded up $0.15 during midday trading on Wednesday, hitting $2.18. 548,486 shares of the company’s stock traded hands, compared to its average volume of 2,485,889. Digi Power X has a 1 year low of $0.85 and a 1 year high of $6.78. The stock has a market capitalization of $99.68 million, a price-to-earnings ratio of -5.18 and a beta of 5.84. The firm has a fifty day moving average of $2.53 and a 200 day moving average of $3.13.

Analyst Upgrades and Downgrades

DGXX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, January 21st. Wall Street Zen cut Digi Power X from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

Insider Activity

In related news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $2.53, for a total value of $69,575.00. Following the transaction, the president owned 1,263,116 shares of the company’s stock, valued at approximately $3,195,683.48. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of Digi Power X by 157.8% during the 4th quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after acquiring an additional 540,801 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Digi Power X in the 3rd quarter worth $1,585,000. Geode Capital Management LLC raised its holdings in Digi Power X by 1,771.7% in the 4th quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock worth $1,511,000 after purchasing an additional 560,749 shares during the period. XTX Topco Ltd bought a new position in Digi Power X in the 4th quarter worth $414,000. Finally, Corsair Capital Management L.P. lifted its position in Digi Power X by 17.3% during the fourth quarter. Corsair Capital Management L.P. now owns 80,000 shares of the company’s stock valued at $204,000 after purchasing an additional 11,825 shares in the last quarter. 1.93% of the stock is currently owned by institutional investors.

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.