Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Drops By 54.8%

Digi Power X Inc. (NASDAQ:DGXX) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 3,421,063 shares, a decline of 54.8% from the May 14th total of 7,571,994 shares. Based on an average daily volume of 12,074,199 shares, the days-to-cover ratio is presently 0.3 days. Currently, 4.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research firms have issued reports on DGXX. Alliance Global Partners restated a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Digi Power X has a consensus rating of “Hold” and a consensus price target of $4.00.

Insider Transactions at Digi Power X

In other Digi Power X news, President Alec Amar sold 27,500 shares of Digi Power X stock in a transaction that occurred on 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 $4,873,458.44. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 55,000 shares of company stock worth $160,032.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DGXX. PFG Investments LLC acquired a new position in Digi Power X during the 4th quarter valued at approximately $26,000. Commonwealth Equity Services LLC acquired a new position in Digi Power X during the 4th quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV acquired a new position in Digi Power X during the 4th quarter valued at approximately $29,000. J.W. Cole Advisors Inc. acquired a new position in Digi Power X during the 4th quarter valued at approximately $29,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Digi Power X during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

Digi Power X Price Performance

Shares of NASDAQ DGXX traded down $0.26 during trading on Friday, reaching $6.24. The stock had a trading volume of 4,675,336 shares, compared to its average volume of 11,114,698. Digi Power X has a one year low of $1.86 and a one year high of $9.20. The firm’s 50 day moving average price is $5.40 and its two-hundred day moving average price is $3.72.

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

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.