Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Down 28.2% in September

Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 494,600 shares, a decrease of 28.2% from the August 31st total of 689,100 shares. Currently, 4.0% of the company's stock are short sold. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is currently 0.3 days.

Insider Buying and Selling

In related news, CEO Gregory A. Beard sold 13,058 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $3.67, for a total transaction of $47,922.86. Following the sale, the chief executive officer now directly owns 395,057 shares of the company's stock, valued at approximately $1,449,859.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Gregory A. Beard sold 44,261 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $4.44, for a total transaction of $196,518.84. Following the sale, the chief executive officer now directly owns 379,324 shares of the company's stock, valued at approximately $1,684,198.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory A. Beard sold 13,058 shares of the company's stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $3.67, for a total transaction of $47,922.86. Following the sale, the chief executive officer now directly owns 395,057 shares in the company, valued at $1,449,859.19. The disclosure for this sale can be found here. Insiders have sold a total of 78,740 shares of company stock valued at $332,873 in the last ninety days. Company insiders own 47.55% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. RFG Advisory LLC acquired a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at $43,000. Western Wealth Management LLC acquired a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at $59,000. Virtu Financial LLC acquired a new stake in Stronghold Digital Mining during the 1st quarter worth $71,000. XTX Topco Ltd acquired a new stake in Stronghold Digital Mining during the 2nd quarter worth $130,000. Finally, Nomura Holdings Inc. acquired a new stake in Stronghold Digital Mining during the 4th quarter worth $404,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Stronghold Digital Mining Stock Up 1.4 %

NASDAQ SDIG traded up $0.07 on Friday, hitting $5.24. 495,625 shares of the stock were exchanged, compared to its average volume of 561,746. The company has a 50-day moving average price of $3.92 and a 200-day moving average price of $3.69. Stronghold Digital Mining has a fifty-two week low of $1.65 and a fifty-two week high of $11.56. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. The company has a market cap of $88.50 million, a PE ratio of -1.11 and a beta of 2.90.

Stronghold Digital Mining (NASDAQ:SDIG - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.33). Stronghold Digital Mining had a negative net margin of 7.61% and a positive return on equity of 40.15%. The company had revenue of $19.10 million during the quarter, compared to analyst estimates of $20.15 million. Sell-side analysts anticipate that Stronghold Digital Mining will post -2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. HC Wainwright reiterated a "neutral" rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd. B. Riley boosted their price target on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Monday, August 26th.

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.