Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Sells $196,518.84 in Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CEO Gregory A. Beard sold 44,261 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $4.44, for a total value of $196,518.84. Following the completion of the sale, the chief executive officer now owns 379,324 shares in the company, valued at approximately $1,684,198.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Stronghold Digital Mining Price Performance

SDIG stock opened at $4.40 on Friday. The business’s 50-day moving average is $3.83 and its two-hundred day moving average is $3.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.34 and a quick ratio of 0.24. The firm has a market capitalization of $67.63 million, a P/E ratio of -0.93 and a beta of 2.90. Stronghold Digital Mining, Inc. has a 1 year low of $1.65 and a 1 year high of $11.56.

Stronghold Digital Mining (NASDAQ:SDIG) last issued its earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.33). Stronghold Digital Mining had a negative net margin of 7.61% and a positive return on equity of 40.15%. The firm had revenue of $19.10 million during the quarter, compared to analyst estimates of $20.15 million. Analysts anticipate that Stronghold Digital Mining, Inc. will post -2.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SDIG shares. HC Wainwright reiterated a “neutral” rating on shares of Stronghold Digital Mining in a research note on Thursday, August 22nd. B. Riley increased their target price on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Monday, August 26th.

Institutional Investors Weigh In On Stronghold Digital Mining

Institutional investors have recently modified their holdings of the company. RFG Advisory LLC purchased a new position in Stronghold Digital Mining in the second quarter valued at $43,000. Western Wealth Management LLC acquired a new position in shares of Stronghold Digital Mining during the 2nd quarter worth about $59,000. Virtu Financial LLC acquired a new position in shares of Stronghold Digital Mining during the 1st quarter worth about $71,000. XTX Topco Ltd purchased a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at about $130,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Stronghold Digital Mining during the 4th quarter worth about $404,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

About Stronghold Digital Mining

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.