Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Decreases By 54.8%

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 3,421,063 shares, a decrease of 54.8% from the May 14th total of 7,571,994 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 12,074,199 shares, the short-interest ratio is presently 0.3 days.

Insider Transactions at Digi Power X

In other Digi Power X news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction that occurred 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 sale, the president owned 1,368,949 shares in the company, valued at $4,873,458.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,000 shares of company stock valued at $160,032 in the last 90 days.

Institutional Investors Weigh In On Digi Power X

A number of large investors have recently added to or reduced their stakes in the stock. Members Advisory Group LLC grew its position in Digi Power X by 6.6% during the first quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock worth $142,000 after buying an additional 4,310 shares in the last quarter. PFG Investments LLC acquired a new stake in Digi Power X during the fourth quarter worth approximately $26,000. Commonwealth Equity Services LLC acquired a new stake in Digi Power X during the fourth quarter worth approximately $29,000. Creative Financial Designs Inc. ADV acquired a new stake in Digi Power X during the fourth quarter worth approximately $29,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Digi Power X during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Digi Power X Stock Down 4.0%

Shares of Digi Power X stock traded down $0.26 on Friday, hitting $6.24. The stock had a trading volume of 4,675,336 shares, compared to its average volume of 10,219,956. Digi Power X has a twelve month low of $1.86 and a twelve month high of $9.20. The business’s 50 day moving average is $5.40 and its two-hundred day moving average is $3.71. The stock has a market cap of $564.22 million, a price-to-earnings ratio of -9.60 and a beta of 6.19.

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

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.