Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Update

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 838,200 shares, an increase of 76.8% from the December 15th total of 474,100 shares. Based on an average daily volume of 557,300 shares, the days-to-cover ratio is currently 1.5 days. Currently, 6.6% of the company’s shares are short sold.

Stronghold Digital Mining Stock Up 5.2 %

NASDAQ SDIG traded up $0.21 during mid-day trading on Friday, hitting $4.19. The company’s stock had a trading volume of 109,710 shares, compared to its average volume of 357,259. The company has a current ratio of 0.27, a quick ratio of 0.21 and a debt-to-equity ratio of 1.73. The company’s 50 day simple moving average is $4.64 and its 200 day simple moving average is $4.32. Stronghold Digital Mining has a twelve month low of $1.65 and a twelve month high of $6.70. The firm has a market capitalization of $72.15 million, a price-to-earnings ratio of -1.13 and a beta of 2.98.

Analyst Upgrades and Downgrades

Separately, B. Riley upgraded Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Insiders Place Their Bets

In other news, CEO Gregory A. Beard sold 14,201 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $3.85, for a total transaction of $54,673.85. Following the completion of the sale, the chief executive officer now owns 446,533 shares of the company’s stock, valued at $1,719,152.05. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 30,775 shares of company stock worth $116,340. 21.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SDIG. Anson Funds Management LP bought a new position in Stronghold Digital Mining in the 3rd quarter valued at about $2,466,000. Walleye Capital LLC purchased a new stake in shares of Stronghold Digital Mining in the third quarter worth approximately $1,022,000. K2 Principal Fund L.P. bought a new position in shares of Stronghold Digital Mining in the third quarter valued at approximately $882,000. Geode Capital Management LLC grew its holdings in Stronghold Digital Mining by 83.0% during the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock worth $849,000 after buying an additional 76,260 shares in the last quarter. Finally, Thomist Capital Management LP bought a new position in Stronghold Digital Mining during the 2nd quarter valued at $485,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Stronghold Digital Mining Company Profile

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.