Traders Purchase Large Volume of Digi Power X Call Options (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of unusually large options trading activity on Thursday. Investors purchased 21,488 call options on the company. This represents an increase of approximately 64% compared to the average volume of 13,134 call options.

Digi Power X Stock Up 3.7%

Shares of DGXX stock traded up $0.14 during trading hours on Thursday, reaching $4.04. The company’s stock had a trading volume of 1,775,256 shares, compared to its average volume of 5,894,402. The firm’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.28. The company has a market capitalization of $365.75 million, a price-to-earnings ratio of -7.49 and a beta of 6.28. Digi Power X has a fifty-two week low of $1.86 and a fifty-two week high of $9.20.

Digi Power X (NASDAQ:DGXX) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.17) EPS for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%.The business had revenue of $6.63 million for the quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DGXX. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research note on Friday, July 17th. Finally, Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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 presently has an average rating of “Hold” and a consensus target price of $4.00.

Insider Activity at Digi Power X

In other Digi Power X news, CEO Michel Amar bought 20,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $3.60 per share, with a total value of $72,000.00. Following the completion of the acquisition, the chief executive officer owned 1,699,885 shares of the company’s stock, valued at $6,119,586. This trade represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Alec Amar purchased 10,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was acquired at an average price of $3.86 per share, with a total value of $38,600.00. Following the completion of the transaction, the president owned 1,378,949 shares of the company’s stock, valued at $5,322,743.14. This represents a 0.73% increase in their position. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On Digi Power X

A number of institutional investors have recently added to or reduced their stakes in the stock. Weiss Asset Management LP acquired a new stake in Digi Power X in the first quarter valued at approximately $540,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Digi Power X during the fourth quarter worth $1,033,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Digi Power X during the fourth quarter worth $29,000. Wedbush Securities Inc. bought a new position in shares of Digi Power X in the 2nd quarter valued at $113,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Digi Power X in the 2nd quarter valued at $79,000. 1.93% of the stock is currently owned by institutional investors and hedge funds.

Digi Power X Company Profile

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.