Short Interest in Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Increases By 76.8%

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 838,200 shares, a growth of 76.8% from the December 15th total of 474,100 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average daily volume of 557,300 shares, the short-interest ratio is presently 1.5 days.

Stronghold Digital Mining Price Performance

Shares of Stronghold Digital Mining stock traded up $0.21 during trading on Friday, hitting $4.19. The stock had a trading volume of 109,710 shares, compared to its average volume of 357,259. The firm has a market cap of $72.15 million, a price-to-earnings ratio of -1.13 and a beta of 2.98. Stronghold Digital Mining has a 12 month low of $1.65 and a 12 month high of $6.70. The business’s 50-day moving average is $4.64 and its 200 day moving average is $4.32. The company has a current ratio of 0.27, a quick ratio of 0.21 and a debt-to-equity ratio of 1.73.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 12,210 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $3.71, for a total value of $45,299.10. Following the transaction, the chief executive officer now owns 462,351 shares of the company’s stock, valued at approximately $1,715,322.21. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 30,775 shares of company stock valued at $116,340. Corporate insiders own 21.14% of the company’s stock.

Institutional Trading of Stronghold Digital Mining

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in Stronghold Digital Mining during the second quarter valued at about $130,000. State Street Corp increased its position in shares of Stronghold Digital Mining by 122.3% during the 3rd quarter. State Street Corp now owns 57,630 shares of the company’s stock valued at $291,000 after purchasing an additional 31,700 shares during the last quarter. Thomist Capital Management LP bought a new position in shares of Stronghold Digital Mining during the 2nd quarter valued at about $485,000. Geode Capital Management LLC raised its holdings in shares of Stronghold Digital Mining by 83.0% during the 3rd quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock valued at $849,000 after buying an additional 76,260 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in Stronghold Digital Mining in the 3rd quarter worth approximately $882,000. 19.33% of the stock is owned by institutional investors.

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.