Ionic Digital (NASDAQ:IOND) Director Buys $827,036.60 in Stock

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate bought 12,493 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was bought at an average cost of $66.20 per share, with a total value of $827,036.60. Following the completion of the purchase, the director owned 49,868 shares of the company’s stock, valued at approximately $3,301,261.60. The trade was a 33.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, November 12th, Michael Abbate bought 7,149 shares of Ionic Digital stock. The shares were bought at an average price of $64.98 per share, for a total transaction of $464,542.02.

Ionic Digital Price Performance

Shares of IOND traded down $4.78 during mid-day trading on Friday, hitting $59.84. 308,345 shares of the company traded hands, compared to its average volume of 426,660. Ionic Digital Inc. has a one year low of $50.00 and a one year high of $89.36. The business has a 50-day simple moving average of $73.68.

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

Analyst Upgrades and Downgrades

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