Gregory A. Beard Acquires 602,409 Shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIGGet Rating) CEO Gregory A. Beard purchased 602,409 shares of the company’s stock in a transaction dated Monday, September 19th. The stock was acquired at an average price of $1.66 per share, with a total value of $999,998.94. Following the completion of the transaction, the chief executive officer now owns 602,409 shares of the company’s stock, valued at approximately $999,998.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stronghold Digital Mining Trading Down 0.9 %

SDIG opened at $1.09 on Friday. The company’s 50 day moving average is $2.06 and its 200-day moving average is $3.53. The company has a market cap of $52.65 million and a P/E ratio of -0.14. Stronghold Digital Mining, Inc. has a 1-year low of $1.06 and a 1-year high of $35.80. The company has a current ratio of 0.34, a quick ratio of 0.31 and a debt-to-equity ratio of 0.27.

Stronghold Digital Mining (NASDAQ:SDIGGet Rating) last posted its earnings results on Tuesday, August 16th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Equities research analysts predict that Stronghold Digital Mining, Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stronghold Digital Mining

A number of institutional investors and hedge funds have recently bought and sold shares of SDIG. New York State Common Retirement Fund bought a new stake in shares of Stronghold Digital Mining during the first quarter worth about $33,000. Penserra Capital Management LLC bought a new stake in Stronghold Digital Mining during the 1st quarter worth approximately $48,000. Rockefeller Capital Management L.P. acquired a new position in Stronghold Digital Mining in the 4th quarter valued at approximately $55,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Stronghold Digital Mining during the second quarter valued at $66,000. Finally, Bank of America Corp DE lifted its holdings in shares of Stronghold Digital Mining by 43.2% during the first quarter. Bank of America Corp DE now owns 13,728 shares of the company’s stock worth $80,000 after purchasing an additional 4,143 shares during the period. Institutional investors and hedge funds own 12.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SDIG. Compass Point dropped their price objective on Stronghold Digital Mining from $16.00 to $8.00 in a report on Tuesday, June 28th. Cowen cut shares of Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $11.00 to $2.25 in a research report on Thursday, August 18th. Cowen lowered shares of Stronghold Digital Mining from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $11.00 to $2.25 in a report on Wednesday, August 17th. B. Riley dropped their target price on shares of Stronghold Digital Mining from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, August 17th. Finally, HC Wainwright assumed coverage on shares of Stronghold Digital Mining in a research report on Tuesday, September 6th. They set a “buy” rating and a $3.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.42.

Stronghold Digital Mining Company Profile

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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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