Digi Power X (NASDAQ:DGXX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Digi Power X (NASDAQ:DGXX) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research analysts have also issued reports on DGXX. HC Wainwright lifted their target price on Digi Power X from $2.50 to $5.00 and gave the company a “buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.00.

Digi Power X Stock Performance

Shares of DGXX opened at $2.33 on Friday. The company’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.17. Digi Power X has a 1 year low of $0.85 and a 1 year high of $6.78. The stock has a market capitalization of $106.78 million, a PE ratio of -5.55 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last announced its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.08. Digi Power X had a negative net margin of 39.25% and a negative return on equity of 47.17%.

Insider Activity at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $2.53, for a total transaction of $69,575.00. Following the sale, the president owned 1,263,116 shares of the company’s stock, valued at approximately $3,195,683.48. This trade represents a 2.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Digi Power X

Several hedge funds have recently added to or reduced their stakes in DGXX. Creative Financial Designs Inc. ADV purchased a new stake in shares of Digi Power X during the 4th quarter worth approximately $29,000. HighTower Advisors LLC purchased a new position in shares of Digi Power X in the 4th quarter valued at $80,000. Alyeska Investment Group L.P. acquired a new stake in Digi Power X during the 3rd quarter worth $1,585,000. Moneta Group Investment Advisors LLC purchased a new stake in Digi Power X in the third quarter valued at $74,000. Finally, Vident Advisory LLC purchased a new stake in Digi Power X in the third quarter valued at $2,663,000. 1.93% of the stock is currently owned by hedge funds and other institutional investors.

About Digi Power X

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.