Ionic Digital (NASDAQ:IOND) Stock: Insider Michael Abbate Acquires 7,149 Shares

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate acquired 7,149 shares of the company’s stock in a transaction on Thursday, November 12th. The stock was acquired at an average cost of $64.98 per share, for a total transaction of $464,542.02. Following the completion of the acquisition, the director owned 57,017 shares of the company’s stock, valued at $3,704,964.66. This trade represents a 14.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Michael Abbate also recently made the following trade(s):

• On Wednesday, November 11th, Michael Abbate acquired 12,493 shares of Ionic Digital stock. The stock was acquired at an average price of $66.20 per share, with a total value of $827,036.60.

Ionic Digital Trading Down 7.4%

Shares of IOND stock traded down $4.78 during trading hours on Friday, hitting $59.84. 308,345 shares of the company’s stock were exchanged, compared to its average volume of 426,660. The company has a market capitalization of $2.69 billion and a price-to-earnings ratio of -65.76. The business’s 50 day moving average price is $73.68. Ionic Digital Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $89.36.

Ionic Digital (NASDAQ:IOND) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter. The company had revenue of $48.99 million during the quarter.

Analyst Ratings Changes

Several brokerages have recently issued reports on IOND. Canaccord Genuity Group began coverage on shares of Ionic Digital in a research report on Thursday, October 22nd. They issued a “buy” rating and a $119.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Ionic Digital in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price target for the company. BTIG Research initiated coverage on shares of Ionic Digital in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 price target on the stock. Wall Street Zen cut Ionic Digital from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Finally, Weiss Ratings upgraded Ionic Digital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.33.

About Ionic Digital

Ionic Digital is a bitcoin mining and digital infrastructure company. Its business centers on operating mining facilities and the computing infrastructure used to validate transactions on the Bitcoin network. The company was formed in 2024 as part of the restructuring of Celsius Network, acquiring Celsius-related bitcoin mining assets. Ionic Digital has focused on developing and operating its mining operations in the United States. Its activities include managing data-center capacity and mining equipment, as well as maintaining the infrastructure needed to support continuous operations.