B. Riley Trims Stronghold Digital Mining (NASDAQ:SDIG) Target Price to $5.00

Stronghold Digital Mining (NASDAQ:SDIG) had its price objective cut by B. Riley from $6.00 to $5.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s target price indicates a potential upside of 37.74% from the company’s previous close.

Separately, Compass Point lowered their price target on shares of Stronghold Digital Mining from $22.00 to $8.50 and set a “buy” rating for the company in a report on Wednesday, April 10th.

Stronghold Digital Mining Stock Up 0.8 %

Shares of SDIG stock traded up $0.03 during trading on Friday, reaching $3.63. The company’s stock had a trading volume of 22,579 shares, compared to its average volume of 700,638. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.50 and a quick ratio of 0.39. The company has a market capitalization of $55.79 million, a price-to-earnings ratio of -0.77 and a beta of 2.80. The stock’s 50-day moving average price is $3.53 and its 200 day moving average price is $4.40. Stronghold Digital Mining has a 1-year low of $1.65 and a 1-year high of $11.56.

Stronghold Digital Mining (NASDAQ:SDIG) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.44. The firm had revenue of $27.52 million during the quarter. Stronghold Digital Mining had a net margin of 3.58% and a return on equity of 27.19%. On average, research analysts anticipate that Stronghold Digital Mining will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 13,811 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $2.38, for a total transaction of $32,870.18. Following the completion of the transaction, the chief executive officer now owns 374,003 shares in the company, valued at approximately $890,127.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 14,364 shares of company stock worth $34,821 in the last 90 days. Corporate insiders own 47.55% of the company’s stock.

Institutional Trading of Stronghold Digital Mining

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Stronghold Digital Mining during the 1st quarter worth approximately $71,000. Nomura Holdings Inc. purchased a new stake in shares of Stronghold Digital Mining during the 4th quarter worth approximately $404,000. Finally, Armistice Capital LLC purchased a new stake in shares of Stronghold Digital Mining during the 4th quarter worth approximately $7,300,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

About Stronghold Digital Mining

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.