Digi Power X (NASDAQ:DGXX) Trading Up 8.8% – Here’s Why

Shares of Digi Power X Inc. (NASDAQ:DGXX) were up 8.8% during trading on Thursday . The stock traded as high as $8.61 and last traded at $8.7180. Approximately 3,252,259 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 6,183,039 shares. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DGXX shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.00.

Digi Power X Stock Performance

The company’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $3.45. The company has a market capitalization of $598.69 million, a P/E ratio of -13.16 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last issued its 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 company had revenue of $6.79 million for the quarter.

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $3.56, for a total value 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. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 55,000 shares of company stock valued at $160,032.

Institutional Trading of Digi Power X

Institutional investors have recently modified their holdings of the company. PFG Investments LLC bought a new stake in shares of Digi Power X in the 4th quarter valued at about $26,000. Arkadios Wealth Advisors purchased a new position in shares of Digi Power X in the 3rd quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Digi Power X in the 4th quarter valued at approximately $29,000. Commonwealth Equity Services LLC purchased a new position in shares of Digi Power X in the 4th quarter valued at approximately $29,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Digi Power X in the 4th quarter valued at approximately $29,000. 1.93% of the stock is currently owned by institutional investors.

About Digi Power X

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.