Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Up 76.8% in December

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 838,200 shares, an increase of 76.8% from the December 15th total of 474,100 shares. Currently, 6.6% of the shares of the company are sold short. Based on an average daily volume of 557,300 shares, the short-interest ratio is presently 1.5 days.

Stronghold Digital Mining Price Performance

NASDAQ SDIG traded up $0.01 on Thursday, hitting $3.98. The company had a trading volume of 256,623 shares, compared to its average volume of 385,732. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.27 and a quick ratio of 0.21. The company’s fifty day moving average price is $4.64 and its 200-day moving average price is $4.32. The company has a market capitalization of $68.62 million, a PE ratio of -1.08 and a beta of 2.98. Stronghold Digital Mining has a 12-month low of $1.65 and a 12-month high of $6.70.

Wall Street Analyst Weigh In

Separately, B. Riley raised Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th.

Insider Activity at Stronghold Digital Mining

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 14,201 shares of Stronghold Digital Mining stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $3.85, for a total value of $54,673.85. Following the completion of the transaction, the chief executive officer now owns 446,533 shares of the company’s stock, valued at approximately $1,719,152.05. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 30,775 shares of company stock worth $116,340 in the last three months. Company insiders own 21.14% of the company’s stock.

Institutional Trading of Stronghold Digital Mining

A number of institutional investors and hedge funds have recently modified their holdings of SDIG. XTX Topco Ltd purchased a new position in Stronghold Digital Mining in the 2nd quarter valued at about $130,000. State Street Corp raised its holdings in shares of Stronghold Digital Mining by 122.3% during the third quarter. State Street Corp now owns 57,630 shares of the company’s stock valued at $291,000 after acquiring an additional 31,700 shares during the last quarter. Thomist Capital Management LP purchased a new position in shares of Stronghold Digital Mining in the second quarter valued at approximately $485,000. Geode Capital Management LLC boosted its stake in shares of Stronghold Digital Mining by 83.0% in the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock worth $849,000 after acquiring an additional 76,260 shares during the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in shares of Stronghold Digital Mining during the third quarter worth approximately $882,000. 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.