Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Sells $32,870.18 in Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 13,811 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $2.38, for a total value of $32,870.18. Following the sale, the chief executive officer now directly owns 374,003 shares of the company’s stock, valued at $890,127.14. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Stronghold Digital Mining Stock Performance

Shares of NASDAQ SDIG opened at $2.69 on Friday. The business’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $4.86. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.50 and a quick ratio of 0.38. Stronghold Digital Mining, Inc. has a 52 week low of $1.65 and a 52 week high of $11.70.

Stronghold Digital Mining (NASDAQ:SDIG) last released its earnings results on Wednesday, March 6th. The company reported ($1.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.10. The firm had revenue of $21.74 million for the quarter, compared to analyst estimates of $22.45 million. Stronghold Digital Mining had a positive return on equity of 10.70% and a negative net margin of 40.57%. On average, analysts forecast that Stronghold Digital Mining, Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Stronghold Digital Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDIG. Armistice Capital LLC acquired a new stake in Stronghold Digital Mining in the 4th quarter valued at approximately $7,300,000. Verition Fund Management LLC grew its holdings in Stronghold Digital Mining by 682.9% in the 1st quarter. Verition Fund Management LLC now owns 156,578 shares of the company’s stock valued at $916,000 after buying an additional 136,578 shares during the last quarter. Vanguard Group Inc. grew its holdings in Stronghold Digital Mining by 74.2% in the 4th quarter. Vanguard Group Inc. now owns 292,800 shares of the company’s stock valued at $2,137,000 after buying an additional 124,737 shares during the last quarter. Millennium Management LLC lifted its position in shares of Stronghold Digital Mining by 878.8% in the 2nd quarter. Millennium Management LLC now owns 125,858 shares of the company’s stock worth $209,000 after acquiring an additional 112,999 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Stronghold Digital Mining by 279.5% in the 1st quarter. Renaissance Technologies LLC now owns 125,600 shares of the company’s stock worth $78,000 after acquiring an additional 92,500 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SDIG shares. Compass Point lowered their price objective on Stronghold Digital Mining from $22.00 to $8.50 and set a “buy” rating on the stock in a report on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Stronghold Digital Mining in a report on Thursday, March 7th.

About Stronghold Digital Mining

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.