Stronghold Digital Mining (NASDAQ:SDIG) Rating Increased to Hold at Zacks Investment Research

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Stronghold Digital Mining Inc. is a vertically integrated bitcoin mining company. Stronghold Digital Mining Inc. is based in NEW YORK. “

A number of other analysts have also weighed in on the stock. B. Riley lowered their price target on shares of Stronghold Digital Mining from $16.00 to $13.00 in a report on Tuesday, May 17th. Compass Point lowered their target price on Stronghold Digital Mining to $16.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Cowen cut their price target on Stronghold Digital Mining from $22.00 to $11.00 in a research note on Wednesday, March 30th. Finally, Northland Securities decreased their price target on Stronghold Digital Mining from $15.00 to $7.00 in a report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Stronghold Digital Mining presently has a consensus rating of “Buy” and a consensus price target of $11.75.

Stronghold Digital Mining stock opened at $3.23 on Wednesday. The business’s fifty day moving average is $4.41 and its two-hundred day moving average is $10.09. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.41 and a quick ratio of 0.38. Stronghold Digital Mining has a 52 week low of $1.87 and a 52 week high of $35.79.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hound Partners LLC bought a new position in Stronghold Digital Mining during the fourth quarter worth about $20,748,000. Toroso Investments LLC boosted its stake in Stronghold Digital Mining by 130.6% during the 1st quarter. Toroso Investments LLC now owns 1,183,354 shares of the company’s stock worth $6,923,000 after acquiring an additional 670,252 shares during the last quarter. Cooper Creek Partners Management LLC grew its holdings in Stronghold Digital Mining by 56.2% during the first quarter. Cooper Creek Partners Management LLC now owns 960,601 shares of the company’s stock valued at $5,620,000 after purchasing an additional 345,540 shares during the period. Miller Value Partners LLC bought a new stake in Stronghold Digital Mining in the fourth quarter valued at approximately $8,936,000. Finally, Lonestar Capital Management LLC acquired a new stake in Stronghold Digital Mining in the fourth quarter worth $7,402,000. Institutional investors and hedge funds own 27.81% of the company’s stock.

About Stronghold Digital Mining (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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