Digi Power X (NASDAQ:DGXX) Stock Price Down 14.4% – Time to Sell?

Digi Power X Inc. (NASDAQ:DGXX)’s stock price traded down 14.4% during mid-day trading on Tuesday . The company traded as low as $4.10 and last traded at $4.22. 5,940,291 shares were traded during trading, a decline of 28% from the average session volume of 8,281,613 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DGXX. HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of Digi Power X in a research report on Wednesday, August 20th. Industrial Alliance Securities set a $3.50 target price on Digi Power X in a report on Tuesday, September 2nd. Alliance Global Partners initiated coverage on Digi Power X in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $3.50 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.17.

Digi Power X Stock Performance

The stock’s 50-day moving average price is $3.51 and its two-hundred day moving average price is $2.73. The stock has a market capitalization of $193.40 million, a PE ratio of -6.59 and a beta of 5.78.

Digi Power X (NASDAQ:DGXX) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.07. Digi Power X had a negative net margin of 58.85% and a negative return on equity of 70.55%. The business had revenue of $8.11 million for the quarter, compared to analyst estimates of $7.80 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Digi Power X stock. Arkadios Wealth Advisors acquired a new stake in shares of Digi Power X Inc. (NASDAQ:DGXX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,666 shares of the company’s stock, valued at approximately $27,000. 1.93% of the stock is owned by hedge funds and other institutional investors.

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.