Stronghold Digital Mining (NASDAQ:SDIG) Price Target Raised to $6.00 at B. Riley

Stronghold Digital Mining (NASDAQ:SDIG) had its price target lifted by B. Riley from $5.00 to $6.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Separately, HC Wainwright reiterated a neutral rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd.

Stronghold Digital Mining Trading Down 2.2 %

Shares of SDIG opened at $5.30 on Monday. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 0.70. Stronghold Digital Mining has a 1-year low of $1.65 and a 1-year high of $11.56. The stock has a market capitalization of $81.47 million, a P/E ratio of -1.12 and a beta of 2.79. The business’s 50-day moving average price is $3.67 and its 200 day moving average price is $3.74.

Insider Activity at Stronghold Digital Mining

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 13,058 shares of Stronghold Digital Mining stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $3.67, for a total value of $47,922.86. Following the completion of the sale, the chief executive officer now directly owns 395,057 shares in the company, valued at $1,449,859.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 21,770 shares of company stock valued at $79,746. 47.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stronghold Digital Mining

Several institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC bought a new stake in shares of Stronghold Digital Mining during the 4th quarter worth about $7,300,000. Thomist Capital Management LP bought a new stake in Stronghold Digital Mining during the second quarter worth approximately $485,000. Nomura Holdings Inc. acquired a new position in Stronghold Digital Mining during the fourth quarter valued at approximately $404,000. XTX Topco Ltd bought a new position in shares of Stronghold Digital Mining in the second quarter valued at approximately $130,000. Finally, Virtu Financial LLC acquired a new stake in shares of Stronghold Digital Mining in the first quarter worth $71,000. 19.33% of the stock is currently owned by institutional investors.

About Stronghold Digital Mining

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.