Ionic Digital (NASDAQ:IOND) Stock: Insider Michael Abbate Acquires 12,493 Shares

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate acquired 12,493 shares of the stock in a transaction on Wednesday, November 11th. The stock was bought at an average price of $66.20 per share, with a total value of $827,036.60. Following the transaction, the director directly owned 49,868 shares in the company, valued at approximately $3,301,261.60. This represents a 33.43% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Abbate also recently made the following trade(s):

• On Thursday, November 12th, Michael Abbate bought 7,149 shares of Ionic Digital stock. The stock was bought at an average cost of $64.98 per share, with a total value of $464,542.02.

Ionic Digital Stock Performance

Shares of IOND stock traded down $4.78 during trading hours on Friday, reaching $59.84. 308,345 shares of the company were exchanged, compared to its average volume of 426,660. Ionic Digital Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $89.36. The business has a fifty day moving average price of $73.68. The firm has a market cap of $2.69 billion and a P/E ratio of -65.76.

Ionic Digital (NASDAQ:IOND) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 EPS for the quarter. The company had revenue of $48.99 million for the quarter.

Analyst Ratings Changes

IOND has been the topic of several research reports. Weiss Ratings raised Ionic Digital from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on Ionic Digital in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 target price for the company. Canaccord Genuity Group began coverage on Ionic Digital in a research report on Thursday, October 22nd. They set a “buy” rating and a $119.00 target price for the company. BTIG Research initiated coverage on Ionic Digital in a research note on Monday, August 24th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Wall Street Zen cut Ionic Digital from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.33.

Ionic Digital Company Profile

Ionic Digital is a bitcoin mining and digital infrastructure company. Its business centers on operating mining facilities and the computing infrastructure used to validate transactions on the Bitcoin network. The company was formed in 2024 as part of the restructuring of Celsius Network, acquiring Celsius-related bitcoin mining assets. Ionic Digital has focused on developing and operating its mining operations in the United States. Its activities include managing data-center capacity and mining equipment, as well as maintaining the infrastructure needed to support continuous operations.