Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Acquires $999,998.94 in Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIGGet Rating) CEO Gregory A. Beard purchased 602,409 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were purchased at an average cost of $1.66 per share, for a total transaction of $999,998.94. Following the completion of the purchase, the chief executive officer now owns 602,409 shares in the company, valued at approximately $999,998.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stronghold Digital Mining Trading Down 0.9 %

NASDAQ:SDIG opened at $1.09 on Friday. Stronghold Digital Mining, Inc. has a 52 week low of $1.06 and a 52 week high of $35.80. The firm has a 50-day moving average price of $2.06 and a two-hundred day moving average price of $3.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.31 and a current ratio of 0.34. The firm has a market cap of $52.65 million and a price-to-earnings ratio of -0.14.

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) last issued its quarterly earnings results on Tuesday, August 16th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. On average, equities analysts expect that Stronghold Digital Mining, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. HC Wainwright started coverage on Stronghold Digital Mining in a report on Tuesday, September 6th. They issued a “buy” rating and a $3.00 target price on the stock. B. Riley reduced their price objective on shares of 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 shares of Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $11.00 to $2.25 in a research report on Thursday, August 18th. Compass Point decreased their price objective on Stronghold Digital Mining from $16.00 to $8.00 in a report on Tuesday, June 28th. Finally, Cowen lowered Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and dropped their target price for the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.42.

Institutional Investors Weigh In On Stronghold Digital Mining

Large investors have recently made changes to their positions in the business. Hound Partners LLC purchased a new position in shares of Stronghold Digital Mining in the 4th quarter worth about $20,748,000. Toroso Investments LLC boosted its stake in Stronghold Digital Mining by 130.6% in the first quarter. Toroso Investments LLC now owns 1,183,354 shares of the company’s stock valued at $6,923,000 after acquiring an additional 670,252 shares during the last quarter. Cooper Creek Partners Management LLC grew its position in shares of Stronghold Digital Mining by 56.2% during the 1st quarter. Cooper Creek Partners Management LLC now owns 960,601 shares of the company’s stock valued at $5,620,000 after acquiring an additional 345,540 shares during the period. Miller Value Partners LLC bought a new position in shares of Stronghold Digital Mining during the 4th quarter valued at approximately $8,936,000. Finally, Lonestar Capital Management LLC purchased a new stake in shares of Stronghold Digital Mining during the 4th quarter worth approximately $7,402,000. 12.37% of the stock is owned by hedge funds and other institutional investors.

Stronghold Digital Mining Company Profile

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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.

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