Ionic Digital (NASDAQ:IOND) Now Covered by BTIG Research

BTIG Research started coverage on shares of Ionic Digital (NASDAQ:IOND) in a report released on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $85.00 price target on the stock. BTIG Research’s price target points to a potential upside of 23.67% from the stock’s previous close.

Several other brokerages also recently issued reports on IOND. Jefferies Financial Group started coverage on shares of Ionic Digital in a research note on Monday. They issued a “buy” rating and a $85.00 price objective on the stock. Wall Street Zen raised shares of Ionic Digital to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ionic Digital has a consensus rating of “Buy” and a consensus price target of $85.00.

Ionic Digital Price Performance

Ionic Digital stock opened at $68.73 on Monday. Ionic Digital has a 1-year low of $50.00 and a 1-year high of $71.90.

Ionic Digital (NASDAQ:IOND) last announced its earnings results on Wednesday, August 19th. The company reported ($0.94) earnings per share (EPS) for the quarter. The business had revenue of $48.65 million during the quarter.

Ionic Digital Company Profile

Ionic Digital, Inc is a digital asset mining company focused primarily on the production of bitcoin. The company operates and develops specialized computing infrastructure, including application-specific integrated circuit (ASIC) mining equipment and related power, cooling, and data-center systems used to validate transactions on the Bitcoin network.

Ionic Digital was established using assets associated with Celsius Mining following the bankruptcy proceedings of Celsius Network. Its operations have been associated with mining facilities in the United States, including locations in Texas and New York.