K2 Principal Fund L.P. Buys New Holdings in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

K2 Principal Fund L.P. purchased a new position in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 174,561 shares of the company’s stock, valued at approximately $882,000.

Other institutional investors have also modified their holdings of the company. Anson Funds Management LP purchased a new position in Stronghold Digital Mining in the third quarter valued at approximately $2,466,000. Walleye Capital LLC acquired a new stake in shares of Stronghold Digital Mining in the third quarter worth $1,022,000. Thomist Capital Management LP purchased a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at $485,000. State Street Corp raised its stake in shares of Stronghold Digital Mining by 122.3% in the 3rd quarter. State Street Corp now owns 57,630 shares of the company’s stock valued at $291,000 after acquiring an additional 31,700 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Stronghold Digital Mining during the 2nd quarter worth $130,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Stronghold Digital Mining Stock Up 13.4 %

Shares of Stronghold Digital Mining stock opened at $5.68 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.27 and a quick ratio of 0.21. Stronghold Digital Mining, Inc. has a 1-year low of $1.65 and a 1-year high of $11.56. The business has a 50-day moving average of $4.90 and a 200-day moving average of $4.21. The company has a market capitalization of $97.92 million, a PE ratio of -1.54 and a beta of 2.92.

Insider Buying and Selling at Stronghold Digital Mining

In other news, CEO Gregory A. Beard sold 15,259 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $4.06, for a total value of $61,951.54. Following the sale, the chief executive officer now owns 391,437 shares in the company, valued at approximately $1,589,234.22. This represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew J. Smith sold 9,170 shares of Stronghold Digital Mining stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total value of $40,806.50. Following the completion of the transaction, the chief financial officer now owns 159,598 shares of the company’s stock, valued at $710,211.10. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,585 shares of company stock worth $316,757 in the last 90 days. 21.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on SDIG shares. B. Riley raised Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th. HC Wainwright restated a “neutral” rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd.

Stronghold Digital Mining Company Profile

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.