Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Expands By 90.0%

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 7,571,994 shares, a growth of 90.0% from the April 30th total of 3,986,145 shares. Currently, 10.8% of the company’s shares are sold short. Based on an average daily trading volume, of 29,484,701 shares, the short-interest ratio is presently 0.3 days.

Digi Power X Price Performance

Shares of Digi Power X stock opened at $8.04 on Tuesday. Digi Power X has a one year low of $1.18 and a one year high of $9.20. The firm has a market capitalization of $561.28 million, a price-to-earnings ratio of -12.37 and a beta of 5.85. The business has a 50-day simple moving average of $4.59 and a 200 day simple moving average of $3.52.

Digi Power X (NASDAQ:DGXX) last issued its earnings results on Friday, May 15th. The company reported $999.00 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.

Insider Activity

In other Digi Power X news, President Alec Amar sold 27,500 shares of the 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 transaction, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Trading of Digi Power X

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vennlight Capital Management LP bought a new stake in Digi Power X during the 4th quarter worth approximately $4,471,000. Vident Advisory LLC bought a new stake in Digi Power X during the 3rd quarter worth approximately $2,663,000. Renaissance Technologies LLC increased its holdings in Digi Power X by 157.8% during the 4th quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock worth $2,253,000 after purchasing an additional 540,801 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Digi Power X during the 3rd quarter worth approximately $1,585,000. Finally, Geode Capital Management LLC increased its holdings in Digi Power X by 1,771.7% during 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 in the last quarter. 1.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.