Digi Power X (NASDAQ:DGXX) Shares Up 18.2% – Here’s Why

Digi Power X Inc. (NASDAQ:DGXX) shares shot up 18.2% during mid-day trading on Monday . The stock traded as high as $7.58 and last traded at $7.3740. 3,276,326 shares changed hands during trading, a decline of 50% from the average session volume of 6,589,280 shares. The stock had previously closed at $6.24.

Wall Street Analysts Forecast Growth

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

Digi Power X Stock Performance

The stock has a market capitalization of $604.92 million, a P/E ratio of -10.29 and a beta of 6.19. The stock has a 50-day moving average price of $5.58 and a two-hundred day moving average price of $3.75.

Digi Power X (NASDAQ:DGXX) last issued its quarterly earnings data on Friday, May 15th. The company reported $999.00 earnings per share for the quarter. The firm had revenue of $6.79 million for the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of Digi Power X stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $3.56, for a total transaction of $97,900.00. Following the sale, the president owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $160,032.

Institutional Investors Weigh In On Digi Power X

A number of large investors have recently modified their holdings of DGXX. Sprott Inc. bought a new stake in shares of Digi Power X during the 3rd quarter valued at about $69,000. Private Advisor Group LLC bought a new stake in shares of Digi Power X during the 3rd quarter valued at about $39,000. Vident Advisory LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $2,663,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $74,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Digi Power X during the third quarter valued at approximately $1,585,000. Institutional investors own 1.93% of the company’s stock.

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.