Digi Power X (NASDAQ:DGXX) Trading Up 6.4% – Time to Buy?

Digi Power X Inc. (NASDAQ:DGXX)’s stock price was up 6.4% during mid-day trading on Tuesday . The company traded as high as $7.81 and last traded at $7.7030. Approximately 5,083,276 shares were traded during trading, a decline of 13% from the average daily volume of 5,850,089 shares. The stock had previously closed at $7.24.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DGXX shares. Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a research report on Monday, April 20th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.00.

Digi Power X Stock Performance

The stock has a market cap of $523.02 million, a price-to-earnings ratio of -11.53 and a beta of 5.85. The company’s 50 day simple moving average is $3.53 and its 200 day simple moving average is $3.35.

Digi Power X (NASDAQ:DGXX) last released its earnings results on Friday, May 15th. The company reported $999.00 EPS for the quarter. The firm had revenue of $6.79 million for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 50.86%.

Insider Activity at Digi Power X

In other 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 value of $97,900.00. Following the sale, the president 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 55,000 shares of company stock valued at $160,032.

Institutional Trading of Digi Power X

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Digi Power X by 5,228.9% in the 1st quarter. Bank of America Corp DE now owns 43,484 shares of the company’s stock worth $88,000 after buying an additional 42,668 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Digi Power X in the 1st quarter worth $540,000. Dimensional Fund Advisors LP raised its stake in shares of Digi Power X by 29.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 140,081 shares of the company’s stock worth $284,000 after buying an additional 31,666 shares in the last quarter. Members Advisory Group LLC raised its stake in shares of Digi Power X by 6.6% in the 1st quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock worth $142,000 after buying an additional 4,310 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Digi Power X in the 1st quarter worth $34,000. Institutional investors own 1.93% of the company’s stock.

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.