Digi Power X (NASDAQ:DGXX) Announces Earnings Results

Digi Power X (NASDAQ:DGXX) posted its quarterly earnings data on Tuesday. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.17), Zacks reports. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.The company had revenue of $8.65 million during the quarter, compared to the consensus estimate of $6.80 million.

Digi Power X Price Performance

Shares of DGXX stock traded up $0.15 during trading hours on Wednesday, hitting $2.18. The stock had a trading volume of 548,486 shares, compared to its average volume of 2,485,889. The stock has a market capitalization of $99.68 million, a price-to-earnings ratio of -5.18 and a beta of 5.84. Digi Power X has a one year low of $0.85 and a one year high of $6.78. The stock’s 50-day moving average price is $2.53 and its two-hundred day moving average price is $3.13.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DGXX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Digi Power X from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Digi Power X presently has an average rating of “Hold” and a consensus target price of $4.00.

Insider Buying and Selling

In other Digi Power X news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $2.53, for a total transaction of $69,575.00. Following the completion of the transaction, the president owned 1,263,116 shares in the company, valued at $3,195,683.48. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of Digi Power X

Several hedge funds have recently modified their holdings of the company. Vennlight Capital Management LP bought a new position in shares of Digi Power X during the 4th quarter valued at approximately $4,471,000. Vident Advisory LLC bought a new stake in Digi Power X in the third quarter worth $2,663,000. Alyeska Investment Group L.P. purchased a new stake in Digi Power X during the third quarter valued at $1,585,000. Geode Capital Management LLC raised its stake in Digi Power X by 1,771.7% during the fourth quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock valued at $1,511,000 after purchasing an additional 560,749 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Digi Power X by 157.8% during the fourth quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after purchasing an additional 540,801 shares during the last quarter. 1.93% of the stock is owned by hedge funds and other institutional investors.

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.