Digi Power X (NASDAQ:DGXX) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Digi Power X (NASDAQ:DGXX) from a sell rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently commented on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

Digi Power X Trading Up 3.2%

DGXX stock traded up $0.07 during midday trading on Friday, hitting $2.28. The company’s stock had a trading volume of 6,204,943 shares, compared to its average volume of 2,457,164. The firm’s 50-day moving average is $3.14 and its 200-day moving average is $3.90. Digi Power X has a 12 month low of $1.77 and a 12 month high of $9.20. The company has a market cap of $231.19 million, a PE ratio of -4.22 and a beta of 6.31.

Digi Power X (NASDAQ:DGXX) last posted its earnings results on Friday, November 13th. The company reported $0.01 EPS for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%. The business had revenue of $12.25 million during the quarter.

Insider Buying and Selling

In related news, President Alec Amar bought 10,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $3.86 per share, with a total value of $38,600.00. Following the transaction, the president owned 1,378,949 shares in the company, valued at approximately $5,322,743.14. This trade represents a 0.73% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michel Amar purchased 20,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $3.60 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,699,885 shares in the company, valued at approximately $6,119,586. This trade represents a 1.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 50,000 shares of company stock worth $165,800. 11.10% of the stock is owned by insiders.

Institutional Trading of Digi Power X

A number of hedge funds have recently bought and sold shares of DGXX. State Street Corp purchased a new position in Digi Power X in the third quarter worth about $460,000. Members Advisory Group LLC boosted its stake in shares of Digi Power X by 19.8% during the 3rd quarter. Members Advisory Group LLC now owns 306,058 shares of the company’s stock worth $1,255,000 after acquiring an additional 50,590 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Digi Power X by 20.3% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 505,192 shares of the company’s stock worth $2,071,000 after acquiring an additional 85,241 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of 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 acquiring an additional 5,500 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of Digi Power X by 91.4% in the 2nd quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock worth $535,000 after purchasing an additional 46,851 shares in the last quarter. Hedge funds and other institutional investors own 1.93% of the company’s stock.

About Digi Power X

Digi Power X is a digital infrastructure company focused on developing and operating data centers and energy assets. Its facilities support Bitcoin mining and, as the company expands its strategy, high-performance computing and artificial intelligence workloads. The company was formerly known as Digihost Technology Inc. and has operated data center and power-generation assets in the United States, including in New York and Alabama. Its integrated approach combines computing facilities with energy infrastructure to support its operations.