Digi Power X (NASDAQ:DGXX) Shares Down 6.4% – Here’s What Happened

Shares of Digi Power X Inc. (NASDAQ:DGXX) traded down 6.4% during trading on Wednesday . The company traded as low as $7.41 and last traded at $7.58. 5,312,885 shares traded hands during mid-day trading, a decline of 14% from the average session volume of 6,149,847 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a report on Monday, April 20th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.00.

Digi Power X Trading Down 3.4%

The company’s 50-day moving average price is $4.14 and its two-hundred day moving average price is $3.43. The company has a market cap of $546.19 million, a P/E ratio of -12.00 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last released its earnings results on Friday, May 15th. The company reported $999.00 earnings per share for the quarter. The company had revenue of $6.79 million during the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%.

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the completion of the sale, the president owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,000 shares of company stock valued at $160,032.

Institutional Investors Weigh In On Digi Power X

Hedge funds and other institutional investors have recently modified their holdings of the stock. PFG Investments LLC bought a new stake in shares of Digi Power X in the 4th quarter worth about $26,000. Commonwealth Equity Services LLC bought a new stake in shares of Digi Power X during the 4th quarter valued at about $29,000. Creative Financial Designs Inc. ADV bought a new position in Digi Power X in the fourth quarter worth about $29,000. J.W. Cole Advisors Inc. bought a new position in Digi Power X in the fourth quarter worth about $29,000. Finally, Arkadios Wealth Advisors bought a new position in Digi Power X in the third quarter worth about $27,000. Institutional investors own 1.93% of the company’s stock.

About Digi Power X

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.