Short Interest in Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Drops By 27.2%

Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Get Free Report) was the recipient of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 474,100 shares, a decrease of 27.2% from the November 30th total of 651,300 shares. Based on an average daily trading volume, of 552,900 shares, the short-interest ratio is presently 0.9 days. Currently, 3.7% of the shares of the company are short sold.

Stronghold Digital Mining Stock Performance

Shares of SDIG traded down $0.11 during midday trading on Friday, reaching $3.92. 379,938 shares of the stock were exchanged, compared to its average volume of 898,226. The company has a quick ratio of 0.21, a current ratio of 0.27 and a debt-to-equity ratio of 1.73. The stock's 50 day simple moving average is $4.91 and its 200 day simple moving average is $4.35. Stronghold Digital Mining has a twelve month low of $1.65 and a twelve month high of $10.73. The company has a market cap of $67.59 million, a P/E ratio of -1.06 and a beta of 2.92.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded Stronghold Digital Mining from a "hold" rating to a "strong-buy" rating in a report on Friday, November 15th.

Insider Buying and Selling at Stronghold Digital Mining

In other news, CEO Gregory A. Beard sold 15,259 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $4.06, for a total transaction of $61,951.54. Following the completion of the sale, the chief executive officer now owns 391,437 shares in the company, valued at approximately $1,589,234.22. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 29,816 shares of company stock worth $118,303 over the last 90 days. Company insiders own 21.14% of the company's stock.

Institutional Trading of Stronghold Digital Mining

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of Stronghold Digital Mining during the 2nd quarter worth approximately $130,000. State Street Corp increased its stake in Stronghold Digital Mining by 122.3% during the 3rd quarter. State Street Corp now owns 57,630 shares of the company's stock worth $291,000 after acquiring an additional 31,700 shares during the period. Geode Capital Management LLC raised its holdings in Stronghold Digital Mining by 83.0% in the 3rd quarter. Geode Capital Management LLC now owns 168,124 shares of the company's stock valued at $849,000 after acquiring an additional 76,260 shares in the last quarter. Thomist Capital Management LP bought a new stake in shares of Stronghold Digital Mining during the 2nd quarter valued at $485,000. Finally, K2 Principal Fund L.P. acquired a new stake in shares of Stronghold Digital Mining during the 3rd quarter worth $882,000. Institutional investors and hedge funds own 19.33% of the company's stock.

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.