Digi Power X (NASDAQ:DGXX) Stock Price Up 18.2% – Time to Buy?

Digi Power X Inc. (NASDAQ:DGXX)’s share price rose 18.2% during mid-day trading on Monday . The company traded as high as $7.58 and last traded at $7.3740. Approximately 3,276,326 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 6,589,280 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

DGXX has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research report on Monday, April 20th. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Digi Power X presently has an average rating of “Hold” and a consensus target price of $4.00.

Digi Power X Price Performance

The company has a market capitalization of $649.13 million, a P/E ratio of -11.06 and a beta of 6.19. The company has a fifty day moving average price of $5.40 and a two-hundred day moving average price of $3.71.

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

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $3.56, for a total transaction of $97,900.00. Following the sale, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,000 shares of company stock worth $160,032 in the last quarter.

Institutional Trading of Digi Power X

Hedge funds and other institutional investors have recently made changes to their positions in the company. PFG Investments LLC bought a new stake in shares of Digi Power X during the fourth quarter worth about $26,000. Commonwealth Equity Services LLC acquired a new position in shares of Digi Power X in the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Digi Power X in the fourth quarter worth approximately $29,000. J.W. Cole Advisors Inc. acquired a new position in shares of Digi Power X in the fourth quarter worth approximately $29,000. Finally, Advisory Services Network LLC acquired a new position in shares of Digi Power X in the fourth quarter worth approximately $37,000. 1.93% of the stock is currently owned by 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.