Stronghold Digital Mining (NASDAQ:SDIG) Price Target Cut to $5.00 by Analysts at B. Riley

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) had its target price lowered by investment analysts at B. Riley from $13.00 to $5.00 in a research note issued to investors on Thursday, The Fly reports. B. Riley’s price target would suggest a potential upside of 197.62% from the stock’s current price.

Other research analysts have also issued reports about the company. Compass Point lowered their price target on Stronghold Digital Mining to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. Cowen lowered their price target on Stronghold Digital Mining from $22.00 to $11.00 in a report on Wednesday, March 30th. Finally, Northland Securities lowered their price target on Stronghold Digital Mining from $15.00 to $7.00 in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.75.

Shares of NASDAQ SDIG opened at $1.68 on Thursday. Stronghold Digital Mining has a 1-year low of $1.55 and a 1-year high of $35.80. The company has a quick ratio of 0.38, a current ratio of 0.41 and a debt-to-equity ratio of 8.61. The business’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $8.12.

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. The company had revenue of $17.01 million during the quarter, compared to analyst estimates of $16.71 million. As a group, equities research analysts anticipate that Stronghold Digital Mining will post 0.31 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new position in shares of Stronghold Digital Mining in the 1st quarter valued at $33,000. Penserra Capital Management LLC purchased a new stake in Stronghold Digital Mining in the 1st quarter worth about $48,000. Rockefeller Capital Management L.P. purchased a new stake in Stronghold Digital Mining in the 4th quarter worth about $55,000. Bank of America Corp DE lifted its stake in Stronghold Digital Mining by 43.2% in the 1st quarter. Bank of America Corp DE now owns 13,728 shares of the company’s stock worth $80,000 after acquiring an additional 4,143 shares in the last quarter. Finally, Laidlaw Wealth Management LLC purchased a new stake in Stronghold Digital Mining in the 1st quarter worth about $82,000. Institutional investors and hedge funds own 27.81% of the company’s stock.

Stronghold Digital Mining Company Profile (Get Rating)

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities. The company was incorporated in 2021 and is headquartered in New York, New York.

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