Digi Power X (NASDAQ:DGXX) Trading 4.2% Higher – What’s Next?

Digi Power X Inc. (NASDAQ:DGXX)’s share price was up 4.2% during mid-day trading on Monday . The company traded as high as $3.14 and last traded at $2.97. Approximately 3,736,455 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 3,656,766 shares. The stock had previously closed at $2.85.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DGXX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, October 8th. HC Wainwright lifted their target price on Digi Power X from $2.50 to $5.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.00.

Digi Power X Stock Performance

The stock has a market capitalization of $136.12 million, a price-to-earnings ratio of -7.07 and a beta of 5.85. The business’s 50 day simple moving average is $3.48 and its 200-day simple moving average is $3.18.

Digi Power X (NASDAQ:DGXX) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Arkadios Wealth Advisors acquired a new stake in Digi Power X in the third quarter worth about $27,000. Fortitude Advisory Group L.L.C. acquired a new position in Digi Power X during the 3rd quarter valued at about $34,000. Private Advisor Group LLC bought a new stake in shares of Digi Power X during the 3rd quarter worth about $39,000. Sprott Inc. acquired a new stake in shares of Digi Power X in the 3rd quarter worth approximately $69,000. Finally, Moneta Group Investment Advisors LLC acquired a new stake in shares of Digi Power X in the 3rd quarter worth approximately $74,000. Institutional investors own 1.93% of the company’s stock.

Digi Power X Company Profile

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.