Traders Buy High Volume of Call Options on Digi Power X (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of unusually large options trading on Monday. Stock investors purchased 16,674 call options on the company. This is an increase of 69% compared to the typical volume of 9,847 call options.

Digi Power X Price Performance

DGXX stock traded down $0.53 during midday trading on Monday, hitting $2.68. 7,342,082 shares of the stock traded hands, compared to its average volume of 2,289,832. Digi Power X has a 1-year low of $0.85 and a 1-year high of $6.78. The stock’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.10. The firm has a market cap of $122.82 million, a P/E ratio of -6.38 and a beta of 5.81.

Digi Power X (NASDAQ:DGXX) last posted its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. Digi Power X had a negative net margin of 39.25% and a negative return on equity of 47.17%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright raised their price target on shares of Digi Power X from $2.50 to $5.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Industrial Alliance Securities set a $3.50 price target on shares of Digi Power X in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, October 8th. Finally, Alliance Global Partners began coverage on Digi Power X in a research report on Tuesday, September 2nd. They set a “buy” rating and a $3.50 price target for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.00.

Hedge Funds Weigh In On Digi Power X

A number of hedge funds have recently bought and sold shares of the business. Arkadios Wealth Advisors acquired a new stake in shares of Digi Power X in the third quarter valued at about $27,000. Fortitude Advisory Group L.L.C. acquired a new position in Digi Power X in the third quarter valued at about $34,000. Private Advisor Group LLC acquired a new position in shares of Digi Power X in the 3rd quarter worth approximately $39,000. Sprott Inc. acquired a new position in Digi Power X during the third quarter worth $69,000. Finally, Moneta Group Investment Advisors LLC purchased a new position in Digi Power X during the 3rd quarter valued at about $74,000. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Digi Power X Company Profile

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.