Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Sells 13,811 Shares of Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 13,811 shares of Stronghold Digital Mining stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $2.38, for a total value of $32,870.18. Following the sale, the chief executive officer now owns 374,003 shares of the company’s stock, valued at approximately $890,127.14. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Stronghold Digital Mining Price Performance

NASDAQ:SDIG opened at $2.37 on Thursday. The business’s 50-day moving average is $4.31 and its two-hundred day moving average is $4.88. Stronghold Digital Mining, Inc. has a 12 month low of $1.65 and a 12 month high of $12.50. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.50 and a quick ratio of 0.38.

Stronghold Digital Mining (NASDAQ:SDIG) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.10. Stronghold Digital Mining had a positive return on equity of 10.70% and a negative net margin of 40.57%. The firm had revenue of $21.74 million during the quarter, compared to analysts’ expectations of $22.45 million. Equities research analysts anticipate that Stronghold Digital Mining, Inc. will post -0.94 earnings per share for the current fiscal year.

Institutional Trading of Stronghold Digital Mining

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AE Wealth Management LLC increased its holdings in Stronghold Digital Mining by 26.3% during the 3rd quarter. AE Wealth Management LLC now owns 14,608 shares of the company’s stock worth $64,000 after purchasing an additional 3,044 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Stronghold Digital Mining by 72.2% in the third quarter. D.A. Davidson & CO. now owns 21,950 shares of the company’s stock valued at $95,000 after acquiring an additional 9,200 shares in the last quarter. Barclays PLC bought a new position in Stronghold Digital Mining during the 2nd quarter valued at $36,000. Arete Wealth Advisors LLC bought a new stake in shares of Stronghold Digital Mining in the 3rd quarter worth about $44,000. Finally, State Street Corp raised its stake in shares of Stronghold Digital Mining by 182.5% in the 3rd quarter. State Street Corp now owns 74,300 shares of the company’s stock valued at $77,000 after purchasing an additional 48,000 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SDIG has been the topic of a number of recent analyst reports. Compass Point reduced their price target on Stronghold Digital Mining from $22.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Stronghold Digital Mining in a report on Thursday, March 7th.

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.