Digi Power X (NASDAQ:DGXX) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Digi Power X (NASDAQ:DGXX) posted its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.08, Zacks reports. Digi Power X had a negative net margin of 39.25% and a negative return on equity of 56.79%.

Digi Power X Price Performance

Shares of NASDAQ:DGXX traded down $0.46 on Friday, hitting $3.21. 6,178,972 shares of the company’s stock were exchanged, compared to its average volume of 8,073,804. The stock has a market capitalization of $147.11 million, a price-to-earnings ratio of -7.64 and a beta of 5.78. Digi Power X has a 12 month low of $0.85 and a 12 month high of $6.78. The business’s 50 day simple moving average is $3.59 and its two-hundred day simple moving average is $2.76.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Digi Power X stock. Vident Advisory LLC purchased a new position in shares of Digi Power X Inc. (NASDAQ:DGXX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,162,945 shares of the company’s stock, valued at approximately $2,663,000. Vident Advisory LLC owned 2.54% of Digi Power X as of its most recent filing with the Securities and Exchange Commission. 1.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

About Digi Power X

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.