Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Sells 13,811 Shares of Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 13,811 shares of Stronghold Digital Mining stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $2.38, for a total value of $32,870.18. Following the sale, the chief executive officer now directly owns 374,003 shares in the company, valued at $890,127.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stronghold Digital Mining Price Performance

NASDAQ:SDIG opened at $2.69 on Friday. Stronghold Digital Mining, Inc. has a one year low of $1.65 and a one year high of $12.20. The stock has a 50-day simple moving average of $4.31 and a 200 day simple moving average of $4.88. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 1.11.

Stronghold Digital Mining (NASDAQ:SDIG) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($1.12) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.10. The business had revenue of $21.74 million during the quarter, compared to the consensus estimate of $22.45 million. Stronghold Digital Mining had a positive return on equity of 10.70% and a negative net margin of 40.57%. Sell-side analysts forecast that Stronghold Digital Mining, Inc. will post -0.94 EPS for the current year.

Hedge Funds Weigh In On Stronghold Digital Mining

A number of hedge funds have recently bought and sold shares of SDIG. Armistice Capital LLC acquired a new position in Stronghold Digital Mining in the fourth quarter valued at approximately $7,300,000. Verition Fund Management LLC boosted its stake in Stronghold Digital Mining by 682.9% in the first quarter. Verition Fund Management LLC now owns 156,578 shares of the company’s stock valued at $916,000 after acquiring an additional 136,578 shares during the period. Vanguard Group Inc. boosted its stake in Stronghold Digital Mining by 74.2% in the fourth quarter. Vanguard Group Inc. now owns 292,800 shares of the company’s stock valued at $2,137,000 after acquiring an additional 124,737 shares during the period. Millennium Management LLC boosted its stake in Stronghold Digital Mining by 878.8% in the second quarter. Millennium Management LLC now owns 125,858 shares of the company’s stock valued at $209,000 after acquiring an additional 112,999 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Stronghold Digital Mining by 279.5% in the first quarter. Renaissance Technologies LLC now owns 125,600 shares of the company’s stock valued at $78,000 after acquiring an additional 92,500 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SDIG shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Stronghold Digital Mining in a research report on Thursday, March 7th. Compass Point dropped their target price on Stronghold Digital Mining from $22.00 to $8.50 and set a “buy” rating on the stock in a research report on Wednesday, April 10th.

About Stronghold Digital Mining

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.