B. Riley Cuts Stronghold Digital Mining (NASDAQ:SDIG) Price Target to $0.50

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) had its target price lowered by B. Riley from $1.00 to $0.50 in a research report sent to investors on Tuesday morning, The Fly reports.

Several other research firms have also recently commented on SDIG. Compass Point upgraded Stronghold Digital Mining from a neutral rating to a buy rating in a research note on Wednesday, February 8th. Northland Securities dropped their target price on Stronghold Digital Mining to $2.00 in a research report on Wednesday, November 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $2.08.

Stronghold Digital Mining Stock Down 5.4 %

Shares of NASDAQ:SDIG opened at $0.50 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.50 and a debt-to-equity ratio of 0.11. Stronghold Digital Mining has a 52-week low of $0.40 and a 52-week high of $11.00. The company has a 50 day moving average of $0.58 and a two-hundred day moving average of $0.78. The company has a market capitalization of $25.92 million, a price-to-earnings ratio of -0.15 and a beta of 2.16.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC increased its position in Stronghold Digital Mining by 63.5% in the 4th quarter. Vident Investment Advisory LLC now owns 121,474 shares of the company’s stock worth $58,000 after buying an additional 47,179 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in Stronghold Digital Mining in the 3rd quarter valued at $56,000. State Street Corp boosted its stake in Stronghold Digital Mining by 182.5% in the 3rd quarter. State Street Corp now owns 74,300 shares of the company’s stock valued at $77,000 after buying an additional 48,000 shares in the last quarter. Laidlaw Wealth Management LLC acquired a new stake in Stronghold Digital Mining in the 3rd quarter valued at $62,000. Finally, Armistice Capital LLC acquired a new position in Stronghold Digital Mining in the third quarter worth $2,365,000. 12.37% of the stock is owned by 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.