Digi Power X (NASDAQ:DGXX) Shares Down 11.2% – Time to Sell?

Digi Power X Inc. (NASDAQ:DGXX) dropped 11.2% during trading on Thursday. The company traded as low as $1.77 and last traded at $1.90. 4,393,175 shares changed hands during trading, an increase of 82% from the average daily volume of 2,409,774 shares. The stock had previously closed at $2.14.

Analysts Set New Price Targets

Several equities research analysts recently commented on DGXX shares. Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a report on Friday, August 14th. Wall Street Zen lowered Digi Power X from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.00.

Digi Power X Stock Down 11.2%

The firm has a market capitalization of $192.66 million, a price-to-earnings ratio of -3.52 and a beta of 6.31. The firm’s 50 day moving average is $3.32 and its 200 day moving average is $3.93.

Digi Power X (NASDAQ:DGXX) last issued its earnings results on Friday, August 14th. The company reported ($0.17) earnings per share for the quarter. The business had revenue of $6.63 million for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%.

Insiders Place Their Bets

In related news, CEO Michel Amar acquired 20,000 shares of Digi Power X stock in a transaction dated Wednesday, October 14th. The stock was acquired at an average cost of $2.76 per share, with a total value of $55,200.00. Following the purchase, the chief executive officer directly owned 1,719,885 shares in the company, valued at $4,746,882.60. The trade was a 1.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Alec Amar bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $3.86 per share, for a total transaction of $38,600.00. Following the completion of the acquisition, the president directly owned 1,378,949 shares in the company, valued at approximately $5,322,743.14. The trade was a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 50,000 shares of company stock valued at $165,800 in the last quarter.

Hedge Funds Weigh In On Digi Power X

A number of hedge funds and other institutional investors have recently modified their holdings of DGXX. Commonwealth Equity Services LLC raised its stake in Digi Power X by 32.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,616 shares of the company’s stock valued at $93,000 after purchasing an additional 5,500 shares during the period. Engineers Gate Manager LP raised its holdings in Digi Power X by 91.4% during the second quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock valued at $535,000 after buying an additional 46,851 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Digi Power X during the second quarter valued at approximately $127,000. Members Advisory Group LLC lifted its position in shares of Digi Power X by 265.5% during the 2nd quarter. Members Advisory Group LLC now owns 255,468 shares of the company’s stock worth $1,392,000 after purchasing an additional 185,581 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in shares of Digi Power X in the second quarter worth $113,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

About Digi Power X

Digi Power X Inc (NASDAQ: DGXX) is a vertically integrated technology and energy company focused on digital asset mining and data center infrastructure. The company develops, owns and operates facilities designed to support energy-intensive computing activities, including Bitcoin mining and other high-performance computing applications.

Digi Power X’s operations are centered on securing and managing power resources, deploying specialized computing equipment, and operating data centers.