Digi Power X Inc. (NASDAQ:DGXX) Sees Large Decrease in Short Interest

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 3,421,063 shares, a drop of 54.8% from the May 14th total of 7,571,994 shares. Based on an average daily volume of 12,074,199 shares, the short-interest ratio is presently 0.3 days. Currently, 4.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DGXX shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.00.

Insider Activity

In related news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $3.56, for a total transaction of $97,900.00. Following the completion of the transaction, the president owned 1,368,949 shares of the company’s stock, valued at $4,873,458.44. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 55,000 shares of company stock worth $160,032 over the last three months.

Institutional Trading of Digi Power X

Institutional investors have recently modified their holdings of the stock. PFG Investments LLC acquired a new stake in shares of Digi Power X in the fourth quarter valued at about $26,000. Commonwealth Equity Services LLC acquired a new stake in shares of Digi Power X in the fourth quarter valued at about $29,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Digi Power X in the fourth quarter valued at about $29,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Digi Power X in the fourth quarter valued at about $29,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Digi Power X in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

Digi Power X Trading Up 12.5%

DGXX traded up $0.78 on Monday, reaching $7.02. The stock had a trading volume of 11,497,833 shares, compared to its average volume of 6,676,204. Digi Power X has a 12-month low of $1.86 and a 12-month high of $9.20. The business’s 50-day moving average price is $5.40 and its two-hundred day moving average price is $3.71. The company has a market cap of $634.75 million, a P/E ratio of -10.80 and a beta of 6.19.

Digi Power X (NASDAQ:DGXX) last announced 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 business had revenue of $6.79 million for the quarter.

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.