Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Sells 9,170 Shares of Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Matthew J. Smith sold 9,170 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total value of $40,806.50. Following the transaction, the chief financial officer now owns 159,598 shares of the company’s stock, valued at approximately $710,211.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Stronghold Digital Mining Price Performance

SDIG traded up $0.20 during trading on Thursday, reaching $4.51. 487,506 shares of the company were exchanged, compared to its average volume of 1,031,025. Stronghold Digital Mining, Inc. has a 12-month low of $1.65 and a 12-month high of $11.56. The company’s 50-day moving average is $3.80 and its two-hundred day moving average is $3.67. The company has a quick ratio of 0.24, a current ratio of 0.34 and a debt-to-equity ratio of 0.92. The company has a market cap of $69.32 million, a price-to-earnings ratio of -0.98 and a beta of 2.90.

Stronghold Digital Mining (NASDAQ:SDIG) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.33). The firm had revenue of $19.10 million during the quarter, compared to analysts’ expectations of $20.15 million. Stronghold Digital Mining had a positive return on equity of 40.15% and a negative net margin of 7.61%. Research analysts forecast that Stronghold Digital Mining, Inc. will post -2.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. B. Riley upped their price objective on shares of Stronghold Digital Mining from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Monday, August 26th. HC Wainwright restated a “neutral” rating on shares of Stronghold Digital Mining in a research note on Thursday, August 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. RFG Advisory LLC purchased a new stake in shares of Stronghold Digital Mining in the second quarter worth $43,000. Western Wealth Management LLC bought a new position in Stronghold Digital Mining in the 2nd quarter worth about $59,000. Virtu Financial LLC purchased a new stake in shares of Stronghold Digital Mining in the 1st quarter valued at about $71,000. XTX Topco Ltd bought a new stake in shares of Stronghold Digital Mining during the 2nd quarter valued at about $130,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Stronghold Digital Mining during the fourth quarter worth about $404,000. 19.33% of the stock is currently owned by hedge funds and other 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.