Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Given Consensus Recommendation of “Buy” by Analysts

Shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIGGet Rating) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.75.

Several equities research analysts have weighed in on the company. Northland Securities cut their price target on Stronghold Digital Mining from $15.00 to $7.00 in a report on Tuesday, May 17th. Compass Point dropped their price objective on Stronghold Digital Mining to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 19th. B. Riley dropped their price objective on Stronghold Digital Mining from $16.00 to $13.00 in a report on Tuesday, May 17th. Cowen dropped their price target on Stronghold Digital Mining from $22.00 to $11.00 in a research note on Wednesday, March 30th. Finally, Zacks Investment Research upgraded Stronghold Digital Mining from a “sell” rating to a “hold” rating in a research note on Thursday, May 19th.

Shares of Stronghold Digital Mining stock opened at $2.76 on Wednesday. Stronghold Digital Mining has a 52 week low of $1.87 and a 52 week high of $35.79. The business’s fifty day simple moving average is $5.15 and its 200-day simple moving average is $10.94. The company has a quick ratio of 0.56, a current ratio of 0.41 and a debt-to-equity ratio of 8.61.

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) last posted its earnings results on Tuesday, March 29th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.06. The firm had revenue of $17.01 million for the quarter, compared to analyst estimates of $16.71 million. As a group, sell-side analysts expect that Stronghold Digital Mining will post 0.04 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in Stronghold Digital Mining during the fourth quarter worth $192,000. Van ECK Associates Corp purchased a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at $2,131,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at $4,636,000. Pier Capital LLC purchased a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at $5,536,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at $2,733,000. 27.81% of the stock is owned by institutional investors.

Stronghold Digital Mining Company Profile (Get Rating)

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities. The company was incorporated in 2021 and is headquartered in New York, New York.

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Analyst Recommendations for Stronghold Digital Mining (NASDAQ:SDIG)

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