Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Drops By 23.6%

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 3,023,611 shares, a decrease of 23.6% from the December 15th total of 3,956,737 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average daily volume of 3,612,947 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 3,612,947 shares, the short-interest ratio is presently 0.8 days. Currently, 6.6% of the shares of the stock are short sold.

Digi Power X Stock Performance

Shares of DGXX traded up $0.18 during midday trading on Friday, hitting $3.19. 3,953,421 shares of the company traded hands, compared to its average volume of 3,227,814. The stock has a market cap of $146.20 million, a price-to-earnings ratio of -7.60 and a beta of 5.85. The firm has a 50 day moving average of $3.29 and a 200-day moving average of $3.19. Digi Power X has a 52 week low of $0.85 and a 52 week high of $6.78.

Digi Power X (NASDAQ:DGXX) last posted its earnings results on Thursday, November 13th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DGXX. HC Wainwright increased their price target on Digi Power X from $2.50 to $5.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Digi Power X presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Insider Activity

In other news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $2.72, for a total transaction of $74,800.00. Following the sale, the president directly owned 1,290,616 shares in the company, valued at $3,510,475.52. This trade represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arkadios Wealth Advisors purchased a new stake in Digi Power X during the third quarter valued at $27,000. Fortitude Advisory Group L.L.C. purchased a new position in shares of Digi Power X in the 3rd quarter worth $34,000. Private Advisor Group LLC bought a new stake in shares of Digi Power X in the 3rd quarter worth about $39,000. Sprott Inc. bought a new stake in shares of Digi Power X in the 3rd quarter worth about $69,000. Finally, Moneta Group Investment Advisors LLC bought a new position in shares of Digi Power X in the 3rd quarter valued at about $74,000. 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.