Digi Power X (NASDAQ:DGXX) Shares Down 8.2% – Time to Sell?

Digi Power X Inc. (NASDAQ:DGXX)’s share price traded down 8.2% during mid-day trading on Wednesday . The company traded as low as $6.13 and last traded at $6.1680. Approximately 1,200,315 shares changed hands during trading, a decline of 82% from the average daily volume of 6,617,394 shares. The stock had previously closed at $6.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Alliance Global Partners restated a “buy” rating on shares of Digi Power X in a research report on Friday, May 15th. Wall Street Zen raised Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.00.

Digi Power X Trading Down 8.9%

The firm has a market capitalization of $553.55 million, a price-to-earnings ratio of -9.47 and a beta of 6.19. The stock’s 50 day moving average price is $6.02 and its two-hundred day moving average price is $3.85.

Digi Power X (NASDAQ:DGXX) last announced its quarterly earnings results on Friday, May 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%. The business had revenue of $6.79 million during the quarter.

Insider Transactions at Digi Power X

In other Digi Power X news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $3.56, for a total transaction of $97,900.00. Following the sale, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,000 shares of company stock worth $160,032 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DGXX. Members Advisory Group LLC boosted its position in shares of Digi Power X by 6.6% in the 1st quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock worth $142,000 after buying an additional 4,310 shares in the last quarter. PFG Investments LLC purchased a new position in Digi Power X during the 4th quarter valued at about $26,000. Commonwealth Equity Services LLC purchased a new position in Digi Power X during the 4th quarter valued at about $29,000. Creative Financial Designs Inc. ADV acquired a new position in Digi Power X during the fourth quarter worth about $29,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Digi Power X in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

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.