Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard Sells 13,811 Shares

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 13,811 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $2.38, for a total value of $32,870.18. Following the transaction, the chief executive officer now owns 374,003 shares of the company’s stock, valued at approximately $890,127.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Stronghold Digital Mining Price Performance

NASDAQ SDIG traded up $0.11 during trading hours on Wednesday, hitting $2.37. The company had a trading volume of 353,908 shares, compared to its average volume of 857,896. Stronghold Digital Mining, Inc. has a 52 week low of $1.65 and a 52 week high of $12.50. The firm has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $4.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.38 and a current ratio of 0.50. The firm has a market capitalization of $35.67 million, a price-to-earnings ratio of -0.20 and a beta of 2.67.

Stronghold Digital Mining (NASDAQ:SDIG) last issued its earnings results on Wednesday, March 6th. The company reported ($1.12) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.10. Stronghold Digital Mining had a positive return on equity of 10.70% and a negative net margin of 40.57%. The business had revenue of $21.74 million during the quarter, compared to the consensus estimate of $22.45 million. Equities research analysts expect that Stronghold Digital Mining, Inc. will post -0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC purchased a new stake in shares of Stronghold Digital Mining in the 4th quarter valued at about $7,300,000. Verition Fund Management LLC raised its holdings in shares of Stronghold Digital Mining by 682.9% in the 1st quarter. Verition Fund Management LLC now owns 156,578 shares of the company’s stock valued at $916,000 after acquiring an additional 136,578 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Stronghold Digital Mining by 74.2% in the 4th quarter. Vanguard Group Inc. now owns 292,800 shares of the company’s stock valued at $2,137,000 after acquiring an additional 124,737 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Stronghold Digital Mining by 878.8% in the 2nd quarter. Millennium Management LLC now owns 125,858 shares of the company’s stock valued at $209,000 after acquiring an additional 112,999 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Stronghold Digital Mining by 279.5% in the 1st quarter. Renaissance Technologies LLC now owns 125,600 shares of the company’s stock valued at $78,000 after acquiring an additional 92,500 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Compass Point cut their price target on Stronghold Digital Mining from $22.00 to $8.50 and set a “buy” rating for the company in a research note on Wednesday, April 10th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Stronghold Digital Mining in a research note on Thursday, March 7th.

About Stronghold Digital Mining

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.