Stronghold Digital Mining Sees Unusually Large Options Volume (NASDAQ:SDIG)

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) saw some unusual options trading activity on Monday. Traders bought 10,245 put options on the company. This is an increase of approximately 1,387% compared to the typical daily volume of 689 put options.

Insider Buying and Selling at Stronghold Digital Mining

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 13,058 shares of Stronghold Digital Mining stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $3.67, for a total transaction of $47,922.86. Following the completion of the sale, the chief executive officer now directly owns 395,057 shares in the company, valued at $1,449,859.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 21,770 shares of company stock valued at $79,746 over the last 90 days. 47.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Stronghold Digital Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Stronghold Digital Mining during the first quarter worth $71,000. Nomura Holdings Inc. acquired a new position in shares of Stronghold Digital Mining during the 4th quarter worth about $404,000. Western Wealth Management LLC acquired a new position in shares of Stronghold Digital Mining during the 2nd quarter worth about $59,000. RFG Advisory LLC purchased a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at about $43,000. Finally, Armistice Capital LLC acquired a new stake in shares of Stronghold Digital Mining during the 4th quarter worth about $7,300,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

SDIG has been the subject of several research analyst reports. B. Riley raised their price target on Stronghold Digital Mining from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. HC Wainwright reaffirmed a “neutral” rating on shares of Stronghold Digital Mining in a research report on Thursday, August 22nd.

Stronghold Digital Mining Stock Down 3.0 %

Stronghold Digital Mining stock traded down $0.14 during mid-day trading on Monday, reaching $4.47. 324,228 shares of the company’s stock were exchanged, compared to its average volume of 1,040,164. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. Stronghold Digital Mining has a twelve month low of $1.65 and a twelve month high of $11.56. The company has a market cap of $68.71 million, a P/E ratio of -0.98 and a beta of 2.90. The company has a fifty day moving average of $3.75 and a 200-day moving average of $3.67.

Stronghold Digital Mining (NASDAQ:SDIG) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.33). Stronghold Digital Mining had a negative net margin of 7.61% and a positive return on equity of 40.15%. The company had revenue of $19.10 million during the quarter, compared to analyst estimates of $20.15 million. Sell-side analysts expect that Stronghold Digital Mining will post -2.07 EPS for the current year.

Stronghold Digital Mining Company Profile

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.