Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Sells $40,806.50 in Stock

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

Stronghold Digital Mining Stock Performance

Shares of SDIG stock opened at $4.40 on Friday. Stronghold Digital Mining, Inc. has a 52 week low of $1.65 and a 52 week high of $11.56. The company has a market cap of $67.63 million, a P/E ratio of -0.93 and a beta of 2.90. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average of $3.83 and a two-hundred day moving average of $3.67.

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

Wall Street Analysts Forecast Growth

SDIG has been the subject of a number of recent analyst reports. B. Riley raised their price target on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the stock 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.

Institutional Investors Weigh In On Stronghold Digital Mining

Several large investors have recently made changes to their positions in SDIG. Armistice Capital LLC acquired a new position in shares of Stronghold Digital Mining during the fourth quarter worth approximately $7,300,000. Thomist Capital Management LP acquired a new stake in Stronghold Digital Mining in the 2nd quarter valued at about $485,000. Nomura Holdings Inc. bought a new stake in Stronghold Digital Mining during the fourth quarter worth approximately $404,000. XTX Topco Ltd bought a new stake in shares of Stronghold Digital Mining during the 2nd quarter worth $130,000. Finally, Virtu Financial LLC acquired a new position in shares of Stronghold Digital Mining in the 1st quarter valued at $71,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

About Stronghold Digital Mining

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.