Investors Buy High Volume of Call Options on Digi Power X (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) saw unusually large options trading activity on Tuesday. Traders purchased 20,234 call options on the company. This is an increase of 79% compared to the average daily volume of 11,301 call options.

Digi Power X Stock Performance

Shares of Digi Power X stock traded down $0.34 during midday trading on Tuesday, hitting $4.39. The company had a trading volume of 1,704,407 shares, compared to its average volume of 6,536,209. The stock has a market capitalization of $397.40 million, a P/E ratio of -6.76 and a beta of 6.25. The company has a 50 day moving average of $6.40 and a 200 day moving average of $3.97. Digi Power X has a 52-week low of $1.86 and a 52-week high of $9.20.

Digi Power X (NASDAQ:DGXX) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter. The company had revenue of $6.79 million for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%.

Insider Transactions at Digi Power X

In related news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the completion of the transaction, the president directly owned 1,368,949 shares in the company, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hedge Funds Weigh In On Digi Power X

Large investors have recently modified their holdings of the stock. Vennlight Capital Management LP purchased a new position in shares of Digi Power X in the 4th quarter worth about $4,471,000. Vident Advisory LLC purchased a new stake in Digi Power X during the 3rd quarter valued at about $2,663,000. Alyeska Investment Group L.P. purchased a new stake in Digi Power X during the 3rd quarter valued at about $1,585,000. Geode Capital Management LLC increased its stake in Digi Power X by 1,771.7% during the 4th quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock valued at $1,511,000 after purchasing an additional 560,749 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Digi Power X by 157.8% during the 4th quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after purchasing an additional 540,801 shares in 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 firms recently weighed in on DGXX. Alliance Global Partners restated a “buy” rating on shares of Digi Power X in a research report on Friday, May 15th. Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research report on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Digi Power X presently has an average rating of “Hold” and a consensus price target 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.