Jefferies Financial Group Upgrades Ionic Digital (NASDAQ:IOND) to “Strong-Buy”

Ionic Digital (NASDAQ:IOND) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. BTIG Research began coverage on Ionic Digital in a research report on Monday. They set a “buy” rating and a $85.00 target price for the company. Wall Street Zen raised Ionic Digital to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Strong Buy” and an average price target of $85.00.

Ionic Digital Stock Up 1.2%

NASDAQ IOND opened at $69.54 on Monday. Ionic Digital has a twelve month low of $50.00 and a twelve month high of $71.90.

Ionic Digital (NASDAQ:IOND) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($0.94) EPS for the quarter. The business had revenue of $48.65 million for the quarter.

About Ionic Digital

Ionic Digital, Inc is a digital asset mining company focused primarily on the production of bitcoin. The company operates and develops specialized computing infrastructure, including application-specific integrated circuit (ASIC) mining equipment and related power, cooling, and data-center systems used to validate transactions on the Bitcoin network.

Ionic Digital was established using assets associated with Celsius Mining following the bankruptcy proceedings of Celsius Network. Its operations have been associated with mining facilities in the United States, including locations in Texas and New York.