Digi Power X (NASDAQ:DGXX) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Digi Power X (NASDAQ:DGXX) issued its earnings results on Tuesday. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17), Zacks reports. The firm had revenue of $8.65 million for the quarter, compared to analysts’ expectations of $6.80 million. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.

Digi Power X Stock Performance

DGXX stock traded up $0.16 during mid-day trading on Wednesday, reaching $2.19. The company had a trading volume of 881,161 shares, compared to its average volume of 2,491,385. The firm has a fifty day simple moving average of $2.53 and a 200 day simple moving average of $3.13. The company has a market capitalization of $100.14 million, a price-to-earnings ratio of -5.23 and a beta of 5.84. Digi Power X has a fifty-two week low of $0.85 and a fifty-two week high of $6.78.

Insider Buying and Selling at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $2.53, for a total transaction of $69,575.00. Following the completion of the transaction, the president directly owned 1,263,116 shares of the company’s stock, valued at approximately $3,195,683.48. This represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Digi Power X

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Digi Power X in the 4th quarter worth $414,000. Dimensional Fund Advisors LP purchased a new stake in shares of Digi Power X in the fourth quarter valued at about $276,000. Millennium Management LLC acquired a new position in shares of Digi Power X during the fourth quarter worth about $197,000. GM Advisory Group LLC acquired a new position in shares of Digi Power X during the fourth quarter worth about $155,000. Finally, Engineers Gate Manager LP purchased a new position in Digi Power X during the fourth quarter worth about $148,000. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DGXX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Wednesday, January 21st. Wall Street Zen cut shares of Digi Power X from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.00.

About Digi Power X

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.