Stock Traders Purchase High Volume of Call Options on Digi Power X (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 27,892 call options on the company. This represents an increase of approximately 123% compared to the typical volume of 12,527 call options.

Digi Power X Stock Up 9.0%

Digi Power X stock traded up $0.34 during mid-day trading on Wednesday, hitting $4.13. The company had a trading volume of 4,602,309 shares, compared to its average volume of 6,068,374. Digi Power X has a 1 year low of $1.86 and a 1 year high of $9.20. The business has a fifty day moving average of $5.01 and a 200 day moving average of $4.18. The stock has a market cap of $373.43 million, a price-to-earnings ratio of -6.35 and a beta of 6.28.

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

Analysts Set New Price Targets

A number of research firms have weighed in on DGXX. Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digi Power X in a research report on Friday, July 17th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Digi Power X has an average rating of “Hold” and an average target price of $4.00.

Institutional Investors Weigh In On Digi Power X

A number of institutional investors and hedge funds have recently bought and sold shares of DGXX. PFG Investments LLC purchased a new position in shares of Digi Power X during the fourth quarter worth about $26,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Digi Power X in the 4th quarter valued at about $29,000. Commonwealth Equity Services LLC purchased a new position in Digi Power X during the 4th quarter worth approximately $29,000. J.W. Cole Advisors Inc. purchased a new position in Digi Power X during the 4th quarter worth approximately $29,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Digi Power X during the first quarter worth approximately $34,000. 1.93% of the stock is owned by hedge funds and other institutional investors.

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.