Digihost Technology (NASDAQ:DGHI) Trading 11% Higher – What’s Next?

Digihost Technology Inc. (NASDAQ:DGHI)’s stock price was up 11% on Tuesday . The stock traded as high as $1.34 and last traded at $1.37. Approximately 171,921 shares traded hands during trading, a decline of 27% from the average daily volume of 235,993 shares. The stock had previously closed at $1.23.

Digihost Technology Price Performance

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $1.75. The stock has a market capitalization of $49.56 million, a price-to-earnings ratio of -2.53 and a beta of 5.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new stake in Digihost Technology in the 4th quarter worth approximately $30,000. Renaissance Technologies LLC raised its holdings in shares of Digihost Technology by 140.8% during the fourth quarter. Renaissance Technologies LLC now owns 31,300 shares of the company’s stock worth $47,000 after acquiring an additional 18,300 shares in the last quarter. Jane Street Group LLC boosted its position in Digihost Technology by 108.5% during the third quarter. Jane Street Group LLC now owns 87,211 shares of the company’s stock valued at $101,000 after purchasing an additional 45,388 shares during the last quarter. Citadel Advisors LLC grew its stake in Digihost Technology by 12.0% in the fourth quarter. Citadel Advisors LLC now owns 79,150 shares of the company’s stock valued at $119,000 after purchasing an additional 8,499 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Digihost Technology by 50.6% in the fourth quarter. Vident Advisory LLC now owns 1,200,356 shares of the company’s stock valued at $1,801,000 after purchasing an additional 403,471 shares in the last quarter. 1.93% of the stock is owned by hedge funds and other institutional investors.

About Digihost Technology

Digihost Technology Inc operates as a blockchain technology company in the United States and Canada. The company operates through Cryptocurrency Mining, Sales of Energy, and Colocation Services segments. It also mines for cryptocurrency; and supplies energy from power plants. Digihost Technology Inc was incorporated in 2017 and is headquartered in Houston, Texas.