Verition Fund Management LLC lifted its holdings in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG – Get Rating) by 682.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,578 shares of the company’s stock after acquiring an additional 136,578 shares during the quarter. Verition Fund Management LLC’s holdings in Stronghold Digital Mining were worth $916,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in SDIG. Northern Trust Corp bought a new position in shares of Stronghold Digital Mining during the 4th quarter worth approximately $836,000. Rockefeller Capital Management L.P. bought a new position in shares of Stronghold Digital Mining during the 4th quarter worth approximately $55,000. Hound Partners LLC bought a new position in shares of Stronghold Digital Mining during the 4th quarter worth approximately $20,748,000. LMR Partners LLP acquired a new stake in Stronghold Digital Mining during the 4th quarter worth approximately $2,249,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in Stronghold Digital Mining during the 4th quarter worth approximately $366,000. 12.37% of the stock is currently owned by institutional investors.
Stronghold Digital Mining Price Performance
Shares of NASDAQ SDIG opened at $1.10 on Thursday. The stock has a market capitalization of $53.14 million and a PE ratio of -0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.34 and a quick ratio of 0.31. The business has a fifty day moving average price of $2.07 and a two-hundred day moving average price of $3.59. Stronghold Digital Mining, Inc. has a fifty-two week low of $1.09 and a fifty-two week high of $35.80.
Insider Transactions at Stronghold Digital Mining
In other Stronghold Digital Mining news, CEO Gregory A. Beard purchased 602,409 shares of the stock in a transaction dated Monday, September 19th. The stock was bought at an average price of $1.66 per share, with a total value of $999,998.94. Following the acquisition, the chief executive officer now owns 602,409 shares of the company’s stock, valued at $999,998.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.93% of the stock is owned by insiders.
Analyst Ratings Changes
SDIG has been the subject of several research reports. HC Wainwright initiated coverage on Stronghold Digital Mining in a report on Tuesday, September 6th. They set a “buy” rating and a $3.00 price target for the company. Compass Point dropped their price target on Stronghold Digital Mining from $16.00 to $8.00 in a report on Tuesday, June 28th. B. Riley dropped their price target on Stronghold Digital Mining from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, August 17th. Cowen cut Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $11.00 to $2.25 in a report on Thursday, August 18th. Finally, Cowen cut Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $11.00 to $2.25 in a report on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Stronghold Digital Mining has an average rating of “Moderate Buy” and an average price target of $4.42.
Stronghold Digital Mining Company Profile
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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