Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Update

Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Get Free Report) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 838,200 shares, an increase of 76.8% from the December 15th total of 474,100 shares. Currently, 6.6% of the company's shares are sold short. Based on an average daily volume of 557,300 shares, the days-to-cover ratio is currently 1.5 days.

Insider Buying and Selling at Stronghold Digital Mining

In related news, CEO Gregory A. Beard sold 14,201 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $3.85, for a total value of $54,673.85. Following the transaction, the chief executive officer now directly owns 446,533 shares of the company's stock, valued at approximately $1,719,152.05. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 30,775 shares of company stock worth $116,340 in the last quarter. 21.14% of the stock is owned by insiders.

Institutional Trading of Stronghold Digital Mining

Several large investors have recently added to or reduced their stakes in SDIG. Thomist Capital Management LP acquired a new position in shares of Stronghold Digital Mining during the second quarter worth about $485,000. XTX Topco Ltd acquired a new position in Stronghold Digital Mining during the 2nd quarter worth approximately $130,000. Walleye Capital LLC acquired a new position in Stronghold Digital Mining during the 3rd quarter worth approximately $1,022,000. State Street Corp boosted its holdings in Stronghold Digital Mining by 122.3% in 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. Finally, Anson Funds Management LP acquired a new stake in Stronghold Digital Mining in the third quarter valued at approximately $2,466,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Stronghold Digital Mining Trading Up 6.7 %

Shares of Stronghold Digital Mining stock traded up $0.25 during trading hours on Wednesday, hitting $3.97. The company's stock had a trading volume of 301,285 shares, compared to its average volume of 400,021. The business has a fifty day moving average of $4.67 and a 200 day moving average of $4.32. Stronghold Digital Mining has a 1-year low of $1.65 and a 1-year high of $6.70. 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 company has a market capitalization of $68.45 million, a PE ratio of -1.07 and a beta of 2.98.

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.