Digi Power X (NASDAQ:DGXX) Posts Earnings Results, Misses Estimates By $0.17 EPS

Digi Power X (NASDAQ:DGXX) posted its quarterly earnings results on Tuesday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17), Zacks reports. The company had revenue of $8.65 million for the quarter, compared to analyst estimates of $6.80 million. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.

Digi Power X Price Performance

NASDAQ:DGXX traded up $0.21 during mid-day trading on Wednesday, reaching $2.24. The company’s stock had a trading volume of 821,921 shares, compared to its average volume of 2,489,874. Digi Power X has a twelve month low of $0.85 and a twelve month high of $6.78. The company’s fifty day simple moving average is $2.53 and its two-hundred day simple moving average is $3.13. The stock has a market cap of $102.43 million, a P/E ratio of -5.32 and a beta of 5.84.

Insider Activity

In related news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $2.53, for a total value of $69,575.00. Following the completion of the sale, the president directly owned 1,263,116 shares in the company, valued at approximately $3,195,683.48. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Digi Power X

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vennlight Capital Management LP purchased a new stake in shares of Digi Power X during the fourth quarter valued at approximately $4,471,000. Vident Advisory LLC acquired a new position in shares of Digi Power X in the 3rd quarter worth approximately $2,663,000. Renaissance Technologies LLC increased its holdings in shares of Digi Power X by 157.8% in the 4th quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after acquiring an additional 540,801 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Digi Power X during the 3rd quarter valued at approximately $1,585,000. Finally, Geode Capital Management LLC lifted its stake in Digi Power X by 1,771.7% during the fourth quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock worth $1,511,000 after purchasing an additional 560,749 shares during the last quarter. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DGXX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a report on Wednesday, January 21st. Wall Street Zen cut Digi Power X from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

Digi Power X Company Profile

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.