Soltis Investment Advisors LLC Makes New $72,000 Investment in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

Soltis Investment Advisors LLC purchased a new stake in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,443 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds have also modified their holdings of SDIG. Anson Funds Management LP purchased a new position in Stronghold Digital Mining in the third quarter valued at about $2,466,000. Walleye Capital LLC bought a new stake in shares of Stronghold Digital Mining in the 3rd quarter valued at approximately $1,022,000. K2 Principal Fund L.P. acquired a new position in Stronghold Digital Mining in the third quarter worth approximately $882,000. Geode Capital Management LLC raised its position in Stronghold Digital Mining by 83.0% during the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock valued at $849,000 after acquiring an additional 76,260 shares in the last quarter. Finally, State Street Corp lifted its stake in Stronghold Digital Mining by 122.3% in the third quarter. State Street Corp now owns 57,630 shares of the company’s stock valued at $291,000 after acquiring an additional 31,700 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 14,201 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $3.85, for a total transaction of $54,673.85. Following the completion of the sale, the chief executive officer now directly owns 446,533 shares in the company, valued at $1,719,152.05. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 30,686 shares of company stock valued at $115,775 over the last 90 days. 21.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded shares of Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Stronghold Digital Mining Price Performance

Shares of NASDAQ:SDIG opened at $3.15 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.27 and a quick ratio of 0.21. The stock has a market capitalization of $54.31 million, a P/E ratio of -0.85 and a beta of 2.99. The business has a 50-day moving average of $4.09 and a two-hundred day moving average of $4.30. Stronghold Digital Mining, Inc. has a fifty-two week low of $1.65 and a fifty-two week high of $6.70.

Stronghold Digital Mining 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.