Digi Power X (NASDAQ:DGXX) Stock Price Down 11.2% – What’s Next?

Shares of Digi Power X Inc. (NASDAQ:DGXX) fell 11.2% on Thursday. The stock traded as low as $1.77 and last traded at $1.90. Approximately 4,393,175 shares changed hands during mid-day trading, an increase of 82% from the average daily volume of 2,409,774 shares. The stock had previously closed at $2.14.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen lowered Digi Power X from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.00.

Digi Power X Trading Up 9.7%

The stock has a market capitalization of $211.42 million, a P/E ratio of -3.86 and a beta of 6.31. The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $3.92.

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

Insider Buying and Selling

In other news, President Alec Amar acquired 10,000 shares of Digi Power X stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $3.86 per share, with a total value of $38,600.00. Following the completion of the purchase, the president owned 1,378,949 shares of the company’s stock, valued at approximately $5,322,743.14. The trade was a 0.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michel Amar acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $3.60 per share, with a total value of $72,000.00. Following the acquisition, the chief executive officer owned 1,699,885 shares of the company’s stock, valued at approximately $6,119,586. This represents a 1.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 50,000 shares of company stock worth $165,800.

Hedge Funds Weigh In On Digi Power X

Institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new stake in Digi Power X in the 1st quarter valued at $34,000. Dynamic Advisor Solutions LLC acquired a new position in Digi Power X during the second quarter worth $66,000. FNY Investment Advisers LLC acquired a new position in Digi Power X during the second quarter worth $79,000. Bank of America Corp DE raised its holdings in Digi Power X by 5,228.9% during the first quarter. Bank of America Corp DE now owns 43,484 shares of the company’s stock worth $88,000 after buying an additional 42,668 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Digi Power X by 32.1% in the third quarter. Commonwealth Equity Services LLC now owns 22,616 shares of the company’s stock valued at $93,000 after buying an additional 5,500 shares in the last quarter. 1.93% of the stock is owned by institutional investors and hedge funds.

Digi Power X Company Profile

Digi Power X Inc (NASDAQ: DGXX) is a vertically integrated technology and energy company focused on digital asset mining and data center infrastructure. The company develops, owns and operates facilities designed to support energy-intensive computing activities, including Bitcoin mining and other high-performance computing applications.

Digi Power X’s operations are centered on securing and managing power resources, deploying specialized computing equipment, and operating data centers.