Matthew J. Smith Sells 9,170 Shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Matthew J. Smith sold 9,170 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total transaction of $40,806.50. Following the completion of the sale, the chief financial officer now directly owns 159,598 shares in the company, valued at approximately $710,211.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Stronghold Digital Mining Stock Performance

Shares of SDIG opened at $4.40 on Friday. The firm has a market capitalization of $67.63 million, a PE 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 firm has a 50-day moving average price of $3.83 and a 200 day moving average price of $3.67. Stronghold Digital Mining, Inc. has a 52-week low of $1.65 and a 52-week high of $11.56.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on SDIG. B. Riley raised their price target on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. HC Wainwright restated a “neutral” rating on shares of Stronghold Digital Mining in a research report on Thursday, August 22nd.

Hedge Funds Weigh In On Stronghold Digital Mining

Hedge funds have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in shares of Stronghold Digital Mining in the fourth quarter valued at $7,300,000. Thomist Capital Management LP bought a new stake in Stronghold Digital Mining in the second quarter worth about $485,000. Nomura Holdings Inc. bought a new stake in Stronghold Digital Mining in the fourth quarter worth about $404,000. XTX Topco Ltd acquired a new stake in Stronghold Digital Mining in the 2nd quarter valued at about $130,000. Finally, Virtu Financial LLC bought a new position in shares of Stronghold Digital Mining during the 1st quarter valued at about $71,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

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.