Ionic Digital (NASDAQ:IOND) Stock: Insider Michael Abbate Buys 7,149 Shares

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate acquired 7,149 shares of Ionic Digital stock in a transaction dated Thursday, November 12th. The stock was purchased at an average price of $64.98 per share, with a total value of $464,542.02. Following the completion of the purchase, the director owned 57,017 shares of the company’s stock, valued at approximately $3,704,964.66. The trade was a 14.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ionic Digital Trading Down 7.4%

NASDAQ IOND traded down $4.78 during trading hours on Friday, reaching $59.84. The stock had a trading volume of 308,345 shares, compared to its average volume of 661,107. Ionic Digital Inc. has a 52-week low of $50.00 and a 52-week high of $89.36. The company’s fifty day moving average is $73.68. The stock has a market cap of $2.69 billion and a PE ratio of -65.76.

Ionic Digital (NASDAQ:IOND) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter. The business had revenue of $48.99 million for the quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IOND. Canaccord Genuity Group assumed coverage on shares of Ionic Digital in a report on Thursday, October 22nd. They set a “buy” rating and a $119.00 target price for the company. Wall Street Zen lowered shares of Ionic Digital from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Jefferies Financial Group started coverage on Ionic Digital in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price target on the stock. Weiss Ratings upgraded Ionic Digital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, BTIG Research started coverage on Ionic Digital in a research note on Monday, August 24th. They set a “buy” rating and a $85.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.33.

About Ionic Digital

Ionic Digital is a bitcoin mining and digital infrastructure company. Its business centers on operating mining facilities and the computing infrastructure used to validate transactions on the Bitcoin network. The company was formed in 2024 as part of the restructuring of Celsius Network, acquiring Celsius-related bitcoin mining assets. Ionic Digital has focused on developing and operating its mining operations in the United States. Its activities include managing data-center capacity and mining equipment, as well as maintaining the infrastructure needed to support continuous operations.