Digi Power X (NASDAQ:DGXX) Sees Large Volume Increase – Still a Buy?

Digi Power X Inc. (NASDAQ:DGXX) shares saw unusually-strong trading volume on Wednesday . Approximately 5,618,304 shares were traded during mid-day trading, a decline of 12% from the previous session’s volume of 6,393,074 shares.The stock last traded at $8.01 and had previously closed at $7.86.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DGXX shares. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Finally, Wall Street Zen upgraded Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Digi Power X Trading Down 1.3%

The firm has a market capitalization of $541.73 million, a PE ratio of -11.94 and a beta of 6.19. The firm has a 50-day moving average of $4.59 and a two-hundred day moving average of $3.52.

Digi Power X (NASDAQ:DGXX) last issued its earnings results on Friday, May 15th. The company reported $999.00 earnings per share for the quarter. The business had revenue of $6.79 million for the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.

Insider Buying and Selling at Digi Power X

In related news, President Alec Amar sold 27,500 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president directly owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. This trade represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 55,000 shares of company stock valued at $160,032.

Hedge Funds Weigh In On Digi Power X

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFG Investments LLC acquired a new position in shares of Digi Power X during the 4th quarter valued at $26,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Digi Power X during the 4th quarter valued at $29,000. Commonwealth Equity Services LLC acquired a new position in shares of Digi Power X during the 4th quarter valued at $29,000. J.W. Cole Advisors Inc. acquired a new position in shares of Digi Power X during the 4th quarter valued at $29,000. Finally, Fortitude Advisory Group L.L.C. acquired a new position in shares of Digi Power X during the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

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.