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

Stronghold Digital Mining, Inc. (NASDAQ:SDIG - Get Free Report) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 673,500 shares, a decrease of 21.0% from the January 15th total of 852,000 shares. Currently, 5.3% of the shares of the stock are sold short. Based on an average trading volume of 522,000 shares, the short-interest ratio is currently 1.3 days.

Analysts Set New Price Targets

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

Stronghold Digital Mining Price Performance

SDIG stock remained flat at $3.35 during midday trading on Monday. 99,142 shares of the company's stock traded hands, compared to its average volume of 314,183. The company has a quick ratio of 0.21, a current ratio of 0.27 and a debt-to-equity ratio of 1.73. Stronghold Digital Mining has a 52 week low of $1.65 and a 52 week high of $6.70. The company has a market cap of $57.76 million, a price-to-earnings ratio of -0.91 and a beta of 2.99. The firm has a 50-day moving average of $3.90 and a 200-day moving average of $4.31.

Insider Buying and Selling at Stronghold Digital Mining

In other news, CEO Gregory A. Beard sold 14,201 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $3.85, for a total transaction of $54,673.85. Following the completion of the sale, the chief executive officer now owns 446,533 shares in the company, valued at $1,719,152.05. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 30,686 shares of company stock worth $115,775. Insiders own 21.14% of the company's stock.

Hedge Funds Weigh In On Stronghold Digital Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Stronghold Digital Mining by 16.9% in the 4th quarter. Northern Trust Corp now owns 28,571 shares of the company's stock valued at $100,000 after buying an additional 4,120 shares during the period. Invesco Ltd. lifted its position in shares of Stronghold Digital Mining by 32.9% during the 4th quarter. Invesco Ltd. now owns 78,524 shares of the company's stock worth $275,000 after purchasing an additional 19,427 shares during the last quarter. Soltis Investment Advisors LLC purchased a new stake in shares of Stronghold Digital Mining during the 4th quarter worth $72,000. State Street Corp lifted its position in shares of 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 purchasing an additional 31,700 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Stronghold Digital Mining during the 4th quarter worth $167,000. Hedge funds and other institutional investors 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.