Ionic Digital (NASDAQ:IOND) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Ionic Digital (NASDAQ:IOND) from a hold rating to a sell rating in a research note issued to investors on Sunday morning,Wall Street Zen reports.

IOND has been the topic of several other research reports. BTIG Research started coverage on shares of Ionic Digital in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 target price on the stock. Jefferies Financial Group began coverage on shares of Ionic Digital in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price target for the company. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $85.00.

Ionic Digital Stock Performance

IOND opened at $72.15 on Friday. Ionic Digital has a 1 year low of $50.00 and a 1 year high of $74.30.

Ionic Digital (NASDAQ:IOND) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.94) EPS for the quarter. The company had revenue of $48.65 million for the quarter.

About Ionic Digital

Ionic Digital, Inc is a digital asset mining company focused primarily on the production of bitcoin. The company operates and develops specialized computing infrastructure, including application-specific integrated circuit (ASIC) mining equipment and related power, cooling, and data-center systems used to validate transactions on the Bitcoin network.

Ionic Digital was established using assets associated with Celsius Mining following the bankruptcy proceedings of Celsius Network. Its operations have been associated with mining facilities in the United States, including locations in Texas and New York.