Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Up 29.8% in September

Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 641,800 shares, an increase of 29.8% from the September 15th total of 494,600 shares. Currently, 5.2% of the company's shares are short sold. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 0.4 days.

Stronghold Digital Mining Stock Up 6.0 %

NASDAQ SDIG traded up $0.25 during trading on Friday, reaching $4.32. 315,476 shares of the company's stock were exchanged, compared to its average volume of 429,538. 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 current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $72.88 million, a PE ratio of -0.93 and a beta of 2.90. The company's fifty day simple moving average is $4.18 and its 200-day simple moving average is $3.72.

Stronghold Digital Mining (NASDAQ:SDIG - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $19.10 million during the quarter, compared to analyst estimates of $20.15 million. Sell-side analysts predict that Stronghold Digital Mining will post -2.07 EPS for the current year.

Analyst Upgrades and Downgrades

SDIG has been the subject of several recent research reports. B. Riley increased their price objective on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. HC Wainwright reiterated a "neutral" rating on shares of Stronghold Digital Mining in a research note on Thursday, August 22nd.

Insider Transactions at Stronghold Digital Mining

In related news, CEO Gregory A. Beard sold 15,259 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $4.06, for a total transaction of $61,951.54. Following the sale, the chief executive officer now directly owns 391,437 shares in the company, valued at approximately $1,589,234.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 15,259 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $4.06, for a total transaction of $61,951.54. Following the transaction, the chief executive officer now directly owns 391,437 shares of the company's stock, valued at approximately $1,589,234.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory A. Beard sold 44,261 shares of Stronghold Digital Mining stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $4.44, for a total transaction of $196,518.84. Following the completion of the sale, the chief executive officer now directly owns 379,324 shares in the company, valued at approximately $1,684,198.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,950 shares of company stock worth $336,271 over the last ninety days. Company insiders own 21.14% of the company's stock.

Institutional Trading of Stronghold Digital Mining

A number of institutional investors have recently bought and sold shares of the business. Nomura Holdings Inc. bought a new stake in Stronghold Digital Mining during the 4th quarter worth about $404,000. Virtu Financial LLC bought a new stake in Stronghold Digital Mining during the 1st quarter worth approximately $71,000. RFG Advisory LLC bought a new position in shares of Stronghold Digital Mining during the second quarter worth about $43,000. Western Wealth Management LLC bought a new stake in Stronghold Digital Mining during the second quarter valued at $59,000. Finally, Thomist Capital Management LP bought a new stake in shares of Stronghold Digital Mining in the 2nd quarter valued at $485,000. Institutional investors and hedge funds own 19.33% of the company's stock.

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.