Stronghold Digital Mining (SDIG) Scheduled to Post Quarterly Earnings on Thursday

Posted by MarketBeat News on Aug 4th, 2022

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) is set to announce its earnings results after the market closes on Thursday, August 11th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) last released its earnings results on Monday, May 16th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.12. The business had revenue of $28.70 million during the quarter, compared to analysts’ expectations of $26.45 million. On average, analysts expect Stronghold Digital Mining to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Stronghold Digital Mining Trading Up 7.5 %

SDIG opened at $2.45 on Thursday. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $5.67. Stronghold Digital Mining has a 12-month low of $1.46 and a 12-month high of $35.79. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.38 and a current ratio of 0.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SDIG shares. Northland Securities dropped their price target on shares of Stronghold Digital Mining from $15.00 to $7.00 in a research note on Tuesday, May 17th. Compass Point dropped their price target on shares of Stronghold Digital Mining from $16.00 to $8.00 in a research note on Tuesday, June 28th. Finally, B. Riley dropped their price target on shares of Stronghold Digital Mining from $13.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Hedge Funds Weigh In On Stronghold Digital Mining

Several hedge funds have recently bought and sold shares of SDIG. Penserra Capital Management LLC acquired a new position in Stronghold Digital Mining during the first quarter worth $48,000. AJ Wealth Strategies LLC increased its position in Stronghold Digital Mining by 21.1% during the first quarter. AJ Wealth Strategies LLC now owns 45,529 shares of the company’s stock worth $266,000 after buying an additional 7,936 shares during the last quarter. Verition Fund Management LLC increased its position in Stronghold Digital Mining by 682.9% during the first quarter. Verition Fund Management LLC now owns 156,578 shares of the company’s stock worth $916,000 after buying an additional 136,578 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in Stronghold Digital Mining during the first quarter worth $504,000. Finally, Prelude Capital Management LLC grew its position in shares of Stronghold Digital Mining by 39.0% in the first quarter. Prelude Capital Management LLC now owns 28,864 shares of the company’s stock valued at $169,000 after purchasing an additional 8,097 shares during the last quarter. 27.81% of the stock is owned by institutional investors and hedge funds.

About Stronghold Digital Mining

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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.