Digi Power X Target of Unusually Large Options Trading (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 20,234 call options on the stock. This represents an increase of 79% compared to the typical daily volume of 11,301 call options.

Digi Power X Price Performance

Shares of DGXX traded down $0.34 during trading hours on Tuesday, hitting $4.39. The company’s stock had a trading volume of 1,704,407 shares, compared to its average volume of 6,536,209. The company has a market cap of $397.40 million, a price-to-earnings ratio of -6.76 and a beta of 6.25. The business has a 50 day simple moving average of $6.40 and a two-hundred day simple moving average of $3.97. Digi Power X has a 52-week low of $1.86 and a 52-week high of $9.20.

Digi Power X (NASDAQ:DGXX) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%. The business had revenue of $6.79 million during the quarter.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Digi Power X news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the completion of the sale, the president directly owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. This represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Trading of Digi Power X

A number of institutional investors have recently added to or reduced their stakes in the stock. Vennlight Capital Management LP bought a new position in shares of Digi Power X in the fourth quarter valued at approximately $4,471,000. Vident Advisory LLC bought a new position in shares of Digi Power X in the third quarter worth approximately $2,663,000. Alyeska Investment Group L.P. purchased a new stake in Digi Power X in the third quarter valued at approximately $1,585,000. Geode Capital Management LLC raised its stake in Digi Power X by 1,771.7% in the fourth quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock valued at $1,511,000 after purchasing an additional 560,749 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Digi Power X by 157.8% during the fourth quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after purchasing an additional 540,801 shares during the last quarter. Hedge funds and other institutional investors 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.