Digi Power X (NASDAQ:DGXX) Trading Down 8.2% – Should You Sell?

Digi Power X Inc. (NASDAQ:DGXX) traded down 8.2% during trading on Wednesday . The company traded as low as $6.13 and last traded at $6.1680. 1,200,315 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,617,394 shares. The stock had previously closed at $6.72.

Analyst Upgrades and Downgrades

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

Digi Power X Price Performance

The company has a market capitalization of $553.55 million, a price-to-earnings ratio of -9.47 and a beta of 6.19. The stock has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $3.85.

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

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction on 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 transaction, the president owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 55,000 shares of company stock worth $160,032.

Institutional Investors Weigh In On Digi Power X

A number of institutional investors and hedge funds have recently bought and sold shares of DGXX. PFG Investments LLC acquired a new position in Digi Power X in the fourth quarter valued at $26,000. Commonwealth Equity Services LLC purchased a new stake in Digi Power X in the 4th quarter valued at $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Digi Power X in the fourth quarter valued at about $29,000. J.W. Cole Advisors Inc. purchased a new stake in Digi Power X during the 4th quarter valued at approximately $29,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Digi Power X during the fourth quarter worth $37,000. 1.93% of the stock is owned by hedge funds and other institutional investors.

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.