Digi Power X (NASDAQ:DGXX) Trading Up 8.8% – Here’s Why

Digi Power X Inc. (NASDAQ:DGXX)’s share price was up 8.8% during trading on Thursday . The stock traded as high as $8.61 and last traded at $8.7180. Approximately 3,252,259 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 6,183,039 shares. The stock had previously closed at $8.01.

Wall Street Analyst Weigh In

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

Digi Power X Trading Up 7.1%

The company has a market capitalization of $598.69 million, a PE ratio of -13.16 and a beta of 5.85. The business’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $3.45.

Digi Power X (NASDAQ:DGXX) last posted its quarterly 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 company had revenue of $6.79 million during the quarter.

Insider Transactions at Digi Power X

In other Digi Power X news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $3.56, for a total transaction of $97,900.00. Following the completion of the transaction, the president directly owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,000 shares of company stock worth $160,032.

Hedge Funds Weigh In On Digi Power X

Several institutional investors have recently made changes to their positions in DGXX. Arkadios Wealth Advisors purchased a new position in shares of Digi Power X during the 3rd quarter valued at approximately $27,000. Fortitude Advisory Group L.L.C. purchased a new position in shares of Digi Power X during the 3rd quarter valued at approximately $34,000. Sprott Inc. purchased a new position in shares of Digi Power X during the 3rd quarter valued at approximately $69,000. Private Advisor Group LLC purchased a new position in shares of Digi Power X during the 3rd quarter valued at approximately $39,000. Finally, Vident Advisory LLC purchased a new position in shares of Digi Power X during the 3rd quarter valued at approximately $2,663,000. 1.93% of the stock is owned by hedge funds and other institutional investors.

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.