Anson Funds Management LP Makes New Investment in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

Anson Funds Management LP acquired a new stake in Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 488,356 shares of the company's stock, valued at approximately $2,466,000. Anson Funds Management LP owned about 2.89% of Stronghold Digital Mining at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC acquired a new stake in shares of Stronghold Digital Mining in the second quarter valued at approximately $43,000. Western Wealth Management LLC bought a new stake in Stronghold Digital Mining in the 2nd quarter valued at $59,000. XTX Topco Ltd acquired a new stake in Stronghold Digital Mining during the 2nd quarter valued at $130,000. State Street Corp boosted its position in Stronghold Digital Mining by 122.3% during the third quarter. State Street Corp now owns 57,630 shares of the company's stock worth $291,000 after purchasing an additional 31,700 shares during the period. Finally, Thomist Capital Management LP acquired a new position in shares of Stronghold Digital Mining in the second quarter valued at $485,000. 19.33% of the stock is owned by institutional investors.

Stronghold Digital Mining Price Performance

SDIG traded up $0.67 on Friday, hitting $5.68. 1,575,119 shares of the stock were exchanged, compared to its average volume of 641,095. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.27 and a quick ratio of 0.21. The firm has a market capitalization of $97.92 million, a price-to-earnings ratio of -1.54 and a beta of 2.92. The business has a 50-day moving average of $4.90 and a two-hundred day moving average of $4.22. Stronghold Digital Mining, Inc. has a 12 month low of $1.65 and a 12 month high of $11.56.

Insiders Place Their Bets

In other news, CFO Matthew J. Smith sold 9,170 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total transaction of $40,806.50. Following the completion of the transaction, the chief financial officer now directly owns 159,598 shares in the company, valued at $710,211.10. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory A. Beard sold 15,259 shares of Stronghold Digital Mining stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $4.06, for a total value of $61,951.54. Following the completion of the transaction, the chief executive officer now directly owns 391,437 shares in the company, valued at approximately $1,589,234.22. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,585 shares of company stock worth $316,757 over the last three months. Insiders own 21.14% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SDIG. B. Riley upgraded shares of Stronghold Digital Mining from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 15th. HC Wainwright restated a "neutral" rating on shares of Stronghold Digital Mining in a research report on Thursday, August 22nd.

Stronghold Digital Mining Company Profile

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.