Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Drops By 54.8%

Digi Power X Inc. (NASDAQ:DGXX) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 3,421,063 shares, a decline of 54.8% from the May 14th total of 7,571,994 shares. Based on an average trading volume of 12,074,199 shares, the days-to-cover ratio is currently 0.3 days. Approximately 4.9% of the shares of the company are short sold.

Digi Power X Trading Down 4.0%

DGXX stock traded down $0.26 during trading on Friday, reaching $6.24. 4,675,336 shares of the company’s stock were exchanged, compared to its average volume of 11,114,698. The company’s fifty day moving average price is $5.40 and its 200-day moving average price is $3.72. Digi Power X has a 1-year low of $1.86 and a 1-year high of $9.20.

Digi Power X (NASDAQ:DGXX) last announced its quarterly earnings data on Friday, May 15th. The company reported $999.00 earnings per share for the quarter. The business had revenue of $6.79 million during the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.

Insider Transactions at Digi Power X

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

Institutional Trading of Digi Power X

Several institutional investors have recently modified their holdings of the company. Members Advisory Group LLC lifted its holdings in shares of Digi Power X by 6.6% in the first quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock valued at $142,000 after buying an additional 4,310 shares during the period. PFG Investments LLC acquired a new stake in shares of Digi Power X in the fourth quarter valued at $26,000. Commonwealth Equity Services LLC acquired a new stake in shares of Digi Power X in the fourth quarter valued at $29,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Digi Power X in the fourth quarter valued at $29,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Digi Power X in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

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.