Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Sells 9,170 Shares of Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Matthew J. Smith sold 9,170 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $4.45, for a total value of $40,806.50. Following the completion of the sale, the chief financial officer now owns 159,598 shares of the company’s stock, valued at approximately $710,211.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Stronghold Digital Mining Trading Down 2.4 %

Stronghold Digital Mining stock opened at $4.40 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. Stronghold Digital Mining, Inc. has a 12 month low of $1.65 and a 12 month high of $11.56. The company’s fifty day simple moving average is $3.83 and its 200-day simple moving average is $3.67. The stock has a market cap of $67.63 million, a P/E ratio of -0.93 and a beta of 2.90.

Stronghold Digital Mining (NASDAQ:SDIG) last issued its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.33). Stronghold Digital Mining had a positive return on equity of 40.15% and a negative net margin of 7.61%. The firm had revenue of $19.10 million during the quarter, compared to analyst estimates of $20.15 million. As a group, sell-side analysts forecast that Stronghold Digital Mining, Inc. will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Stronghold Digital Mining

A number of hedge funds have recently added to or reduced their stakes in the company. RFG Advisory LLC bought a new stake in Stronghold Digital Mining in the second quarter worth approximately $43,000. Western Wealth Management LLC acquired a new stake in shares of Stronghold Digital Mining in the 2nd quarter valued at $59,000. Virtu Financial LLC acquired a new stake in shares of Stronghold Digital Mining in the 1st quarter valued at $71,000. XTX Topco Ltd bought a new stake in Stronghold Digital Mining in the second quarter worth $130,000. Finally, Nomura Holdings Inc. acquired a new position in Stronghold Digital Mining during the fourth quarter worth $404,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. B. Riley upped their price target on Stronghold Digital Mining from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. HC Wainwright reiterated a “neutral” rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd.

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.