Ionic Digital (NASDAQ:IOND) Research Coverage Started at BTIG Research

BTIG Research initiated coverage on shares of Ionic Digital (NASDAQ:IOND) in a research report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $85.00 target price on the stock.

Several other brokerages have also recently issued reports on IOND. Jefferies Financial Group initiated coverage on Ionic Digital in a research note on Monday. They issued a “buy” rating and a $85.00 price objective on the stock. Wall Street Zen raised Ionic Digital to a “hold” rating in a research note on Saturday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Ionic Digital has a consensus rating of “Buy” and a consensus target price of $85.00.

Ionic Digital Price Performance

NASDAQ:IOND opened at $70.63 on Monday. Ionic Digital has a 52 week low of $50.00 and a 52 week high of $71.90.

Ionic Digital (NASDAQ:IOND) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.94) EPS for the quarter. The firm had revenue of $48.65 million for the quarter.

Ionic Digital Company Profile

Ionic Digital, Inc is a digital asset mining company focused primarily on the production of bitcoin. The company operates and develops specialized computing infrastructure, including application-specific integrated circuit (ASIC) mining equipment and related power, cooling, and data-center systems used to validate transactions on the Bitcoin network.

Ionic Digital was established using assets associated with Celsius Mining following the bankruptcy proceedings of Celsius Network. Its operations have been associated with mining facilities in the United States, including locations in Texas and New York.