Ionic Digital (NASDAQ:IOND) Director Michael Abbate Acquires 7,149 Shares of Stock

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate bought 7,149 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were acquired at an average price of $64.98 per share, with a total value of $464,542.02. Following the acquisition, the director owned 57,017 shares of the company’s stock, valued at $3,704,964.66. This represents a 14.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Abbate also recently made the following trade(s):

• On Wednesday, November 11th, Michael Abbate acquired 12,493 shares of Ionic Digital stock. The stock was bought at an average price of $66.20 per share, with a total value of $827,036.60.

Ionic Digital Stock Down 7.4%

Shares of NASDAQ:IOND traded down $4.78 on Friday, hitting $59.84. The company had a trading volume of 308,345 shares, compared to its average volume of 426,660. The stock’s 50-day moving average is $73.68. The company has a market cap of $2.69 billion and a price-to-earnings ratio of -65.76. Ionic Digital Inc. has a 1 year low of $50.00 and a 1 year high of $89.36.

Ionic Digital (NASDAQ:IOND) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.38 earnings per share (EPS) for the quarter. The company had revenue of $48.99 million for the quarter.

Analyst Ratings Changes

Several analysts have weighed in on the company. BTIG Research began coverage on Ionic Digital in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price objective on the stock. Canaccord Genuity Group began coverage on Ionic Digital in a research report on Thursday, October 22nd. They issued a “buy” rating and a $119.00 target price for the company. Jefferies Financial Group assumed coverage on Ionic Digital in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 target price for the company. Weiss Ratings upgraded Ionic Digital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Finally, Wall Street Zen lowered Ionic Digital from a “hold” rating to a “sell” rating in a research report on Sunday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Ionic Digital Company Profile

Ionic Digital is a bitcoin mining and digital infrastructure company. Its business centers on operating mining facilities and the computing infrastructure used to validate transactions on the Bitcoin network. The company was formed in 2024 as part of the restructuring of Celsius Network, acquiring Celsius-related bitcoin mining assets. Ionic Digital has focused on developing and operating its mining operations in the United States. Its activities include managing data-center capacity and mining equipment, as well as maintaining the infrastructure needed to support continuous operations.