Wall Street Zen Downgrades Digi Power X (NASDAQ:DGXX) to Sell

Digi Power X (NASDAQ:DGXX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research report on Friday, July 17th. Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Digi Power X currently has an average rating of “Hold” and a consensus price target of $5.00.

Digi Power X Stock Performance

Shares of DGXX opened at $4.59 on Friday. The firm has a market capitalization of $465.43 million, a P/E ratio of -8.50 and a beta of 6.25. The stock’s fifty day simple moving average is $3.90 and its 200 day simple moving average is $4.49. Digi Power X has a twelve month low of $1.86 and a twelve month high of $9.20.

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

Insider Buying and Selling

In related news, CEO Michel Amar purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $72,000.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Alec Amar purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average cost of $3.86 per share, for a total transaction of $38,600.00. Following the acquisition, the president owned 1,378,949 shares in the company, valued at approximately $5,322,743.14. The trade was a 0.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Digi Power X

A number of hedge funds have recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC bought a new stake in Digi Power X in the 2nd quarter valued at about $66,000. FNY Investment Advisers LLC bought a new position in Digi Power X in the 2nd quarter worth about $79,000. Chicago Partners Investment Group LLC bought a new position in Digi Power X in the 1st quarter worth about $34,000. Sovereign Financial Group Inc. acquired a new stake in shares of Digi Power X in the first quarter valued at approximately $39,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Digi Power X in the second quarter valued at approximately $113,000. 1.93% of the stock is currently owned by institutional investors.

About Digi Power X

Digi Power X, Inc is an energy infrastructure and high-performance computing company focused on developing, owning and operating data centers. Its activities include digital asset mining, particularly Bitcoin mining, as well as infrastructure designed to support other compute-intensive applications, including artificial intelligence and related high-performance computing services.

The company emphasizes the use of power-generation and data-center infrastructure to support its operations, with a focus on energy efficiency and access to lower-cost power.