Digi Power X (NASDAQ:DGXX) Stock Price Up 18.2% – Time to Buy?

Digi Power X Inc. (NASDAQ:DGXX)’s share price was up 18.2% during trading on Monday . The company traded as high as $7.58 and last traded at $7.3740. Approximately 3,276,326 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 6,589,280 shares. The stock had previously closed at $6.24.

Analysts Set New Price Targets

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

Digi Power X Stock Up 15.0%

The company has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $3.71. The stock has a market capitalization of $649.13 million, a price-to-earnings ratio of -11.06 and a beta of 6.19.

Digi Power X (NASDAQ:DGXX) last issued 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 return on equity of 42.04% and a negative net margin of 98.79%.The firm had revenue of $6.79 million for the quarter.

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 that occurred on Friday, May 1st. The stock was sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president directly owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,000 shares of company stock valued at $160,032 over the last quarter.

Hedge Funds Weigh In On Digi Power X

Several institutional investors have recently added to or reduced their stakes in the business. Sprott Inc. bought a new stake in shares of Digi Power X during the third quarter valued at approximately $69,000. Private Advisor Group LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $39,000. Vident Advisory LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $2,663,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $74,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Digi Power X during the third quarter valued at approximately $1,585,000. 1.93% of the stock is owned by institutional investors and hedge funds.

Digi Power X Company Profile

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.