K2 Principal Fund L.P. Makes New Investment in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

K2 Principal Fund L.P. bought a new stake in Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 174,561 shares of the company's stock, valued at approximately $882,000. K2 Principal Fund L.P. owned approximately 1.03% of Stronghold Digital Mining as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SDIG. RFG Advisory LLC purchased a new stake in shares of Stronghold Digital Mining during the 2nd quarter valued at approximately $43,000. Western Wealth Management LLC purchased a new position in Stronghold Digital Mining in the second quarter worth approximately $59,000. XTX Topco Ltd acquired a new stake in Stronghold Digital Mining during the second quarter worth $130,000. State Street Corp raised its position in Stronghold Digital Mining by 122.3% in the third quarter. State Street Corp now owns 57,630 shares of the company's stock valued at $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 2nd quarter valued at $485,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Stronghold Digital Mining Trading Up 13.4 %

Shares of NASDAQ SDIG traded up $0.67 during trading on Friday, reaching $5.68. The stock had a trading volume of 1,575,119 shares, compared to its average volume of 641,095. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.21 and a current ratio of 0.27. The company has a market cap of $97.92 million, a P/E ratio of -1.54 and a beta of 2.92. Stronghold Digital Mining, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $11.56. The business's 50-day moving average price is $4.90 and its 200-day moving average price is $4.22.

Analysts Set New Price Targets

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

Insider Activity at Stronghold Digital Mining

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

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.