Digi Power X (NASDAQ:DGXX) Shares Up 6.4% – Time to Buy?

Digi Power X Inc. (NASDAQ:DGXX) shot up 6.4% during mid-day trading on Tuesday . The stock traded as high as $7.81 and last traded at $7.7030. 5,083,276 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 5,850,089 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several brokerages have issued reports on DGXX. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.00.

Digi Power X Price Performance

The stock’s 50-day moving average is $3.72 and its 200-day moving average is $3.38. The stock has a market cap of $537.54 million, a price-to-earnings ratio of -11.85 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last announced its earnings results on Friday, May 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%. The firm had revenue of $6.79 million for the quarter.

Insiders Place Their Bets

In related news, President Alec Amar sold 27,500 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $3.56, for a total transaction of $97,900.00. Following the transaction, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,000 shares of company stock worth $160,032 in the last quarter.

Hedge Funds Weigh In On Digi Power X

Large investors have recently added to or reduced their stakes in the business. PFG Investments LLC purchased a new position in Digi Power X during the fourth quarter worth about $26,000. Commonwealth Equity Services LLC purchased a new position in Digi Power X during the fourth quarter worth about $29,000. Creative Financial Designs Inc. ADV purchased a new position in Digi Power X during the fourth quarter worth about $29,000. J.W. Cole Advisors Inc. purchased a new position in Digi Power X during the fourth quarter worth about $29,000. Finally, Arkadios Wealth Advisors purchased a new position in Digi Power X during the third quarter worth approximately $27,000. 1.93% of the stock is currently 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.