Wall Street Zen Upgrades Digi Power X (NASDAQ:DGXX) to “Hold”

Digi Power X (NASDAQ:DGXX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

DGXX has been the topic of several other research reports. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Digi Power X in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.

Digi Power X Stock Performance

Shares of DGXX opened at $2.28 on Friday. The company has a market cap of $231.19 million, a price-to-earnings ratio of -4.22 and a beta of 6.31. The stock has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $3.90. Digi Power X has a 52-week low of $1.77 and a 52-week high of $9.20.

Digi Power X (NASDAQ:DGXX) last announced its earnings results on Friday, November 13th. The company reported $0.01 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 company had revenue of $12.25 million for the quarter.

Insider Activity at Digi Power X

In other news, CEO Michel Amar acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were purchased 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 approximately $6,119,586. This represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Alec Amar acquired 10,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $3.86 per share, for a total transaction of $38,600.00. Following the completion of the transaction, the president directly 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. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 50,000 shares of company stock valued at $165,800 in the last 90 days. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Digi Power X

Several large investors have recently made changes to their positions in DGXX. State Street Corp acquired a new stake in Digi Power X in the third quarter worth about $460,000. Members Advisory Group LLC raised its holdings in Digi Power X by 19.8% during the 3rd quarter. Members Advisory Group LLC now owns 306,058 shares of the company’s stock worth $1,255,000 after purchasing an additional 50,590 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in Digi Power X by 20.3% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 505,192 shares of the company’s stock valued at $2,071,000 after purchasing an additional 85,241 shares during the period. Commonwealth Equity Services LLC lifted its position in Digi Power X by 32.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,616 shares of the company’s stock valued at $93,000 after purchasing an additional 5,500 shares during the period. Finally, Engineers Gate Manager LP lifted its position in Digi Power X by 91.4% during the 2nd quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock valued at $535,000 after purchasing an additional 46,851 shares during the period. Institutional investors and hedge funds own 1.93% of the company’s stock.

About Digi Power X

Digi Power X is a digital infrastructure company focused on developing and operating data centers and energy assets. Its facilities support Bitcoin mining and, as the company expands its strategy, high-performance computing and artificial intelligence workloads. The company was formerly known as Digihost Technology Inc. and has operated data center and power-generation assets in the United States, including in New York and Alabama. Its integrated approach combines computing facilities with energy infrastructure to support its operations.