Insider Buying: Ionic Digital (NASDAQ:IOND) Director Buys 12,493 Shares of Company Stock

Ionic Digital Inc. (NASDAQ:IOND) Director Michael Abbate acquired 12,493 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were bought at an average cost of $66.20 per share, for a total transaction of $827,036.60. Following the completion of the acquisition, the director directly owned 49,868 shares of the company’s stock, valued at approximately $3,301,261.60. This represents a 33.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, November 12th, Michael Abbate acquired 7,149 shares of Ionic Digital stock. The stock was bought at an average price of $64.98 per share, for a total transaction of $464,542.02.

Ionic Digital Trading Down 7.4%

Shares of IOND traded down $4.78 during mid-day trading on Friday, reaching $59.84. The company had a trading volume of 308,345 shares, compared to its average volume of 426,660. Ionic Digital Inc. has a twelve month low of $50.00 and a twelve month high of $89.36. The stock’s 50-day moving average price is $73.68.

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

Wall Street Analyst Weigh In

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

About Ionic Digital

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.