Digi Power X (NASDAQ:DGXX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Digi Power X (NASDAQ:DGXX) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on DGXX. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Friday, July 17th. Alliance Global Partners reaffirmed a “buy” rating on shares of Digi Power X in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Digi Power X has a consensus rating of “Hold” and a consensus target price of $5.00.

Digi Power X Trading Down 8.1%

DGXX opened at $4.22 on Friday. The company’s 50 day moving average is $3.90 and its 200 day moving average is $4.50. The company has a market cap of $427.91 million, a price-to-earnings ratio of -7.81 and a beta of 6.25. Digi Power X has a 12-month low of $1.86 and a 12-month high of $9.20.

Digi Power X (NASDAQ:DGXX) last announced its earnings results on Friday, August 14th. The company reported ($0.17) EPS for the quarter. Digi Power X had a negative net margin of 116.79% and a negative return on equity of 26.75%. The business had revenue of $6.63 million for the quarter.

Insider Activity

In other Digi Power X news, President Alec Amar bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $3.86 per share, with a total value of $38,600.00. Following the purchase, the president owned 1,378,949 shares of the company’s stock, valued at $5,322,743.14. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michel Amar purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $3.60 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the chief executive officer owned 1,699,885 shares in the company, valued at $6,119,586. This represents a 1.19% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Digi Power X

A number of institutional investors have recently added to or reduced their stakes in DGXX. Weiss Asset Management LP bought a new stake in Digi Power X in the 1st quarter valued at $540,000. Members Advisory Group LLC boosted its holdings in shares of Digi Power X by 265.5% during the 2nd quarter. Members Advisory Group LLC now owns 255,468 shares of the company’s stock valued at $1,392,000 after purchasing an additional 185,581 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Digi Power X by 91.4% during the 2nd quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock valued at $535,000 after purchasing an additional 46,851 shares during the last quarter. Bank of America Corp DE grew its position in shares of Digi Power X by 5,228.9% during the first quarter. Bank of America Corp DE now owns 43,484 shares of the company’s stock valued at $88,000 after purchasing an additional 42,668 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Digi Power X by 29.2% during the first quarter. Dimensional Fund Advisors LP now owns 140,081 shares of the company’s stock valued at $284,000 after purchasing an additional 31,666 shares in the last quarter. 1.93% of the stock is owned by hedge funds and other institutional investors.

About Digi Power X

Digi Power X, Inc is an energy infrastructure and high-performance computing company focused on developing, owning and operating data centers. Its activities include digital asset mining, particularly Bitcoin mining, as well as infrastructure designed to support other compute-intensive applications, including artificial intelligence and related high-performance computing services.

The company emphasizes the use of power-generation and data-center infrastructure to support its operations, with a focus on energy efficiency and access to lower-cost power.