Thomist Capital Management LP Invests $485,000 in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

Thomist Capital Management LP purchased a new position in Stronghold Digital Mining, Inc. (NASDAQ:SDIG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 118,856 shares of the company’s stock, valued at approximately $485,000. Thomist Capital Management LP owned 0.77% of Stronghold Digital Mining at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SDIG. Armistice Capital LLC purchased a new stake in shares of Stronghold Digital Mining in the 4th quarter worth $7,300,000. Nomura Holdings Inc. purchased a new position in Stronghold Digital Mining during the 4th quarter valued at about $404,000. Virtu Financial LLC bought a new stake in shares of Stronghold Digital Mining in the 1st quarter valued at about $71,000. Western Wealth Management LLC bought a new stake in shares of Stronghold Digital Mining in the 2nd quarter valued at about $59,000. Finally, RFG Advisory LLC purchased a new stake in shares of Stronghold Digital Mining in the 2nd quarter worth approximately $43,000. Institutional investors own 19.33% of the company’s stock.

Insider Activity at Stronghold Digital Mining

In other news, CEO Gregory A. Beard sold 13,058 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $3.67, for a total transaction of $47,922.86. Following the sale, the chief executive officer now owns 395,057 shares in the company, valued at $1,449,859.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 21,770 shares of company stock valued at $79,746 in the last ninety days. Corporate insiders own 47.55% of the company’s stock.

Stronghold Digital Mining Stock Down 5.1 %

Shares of Stronghold Digital Mining stock opened at $4.31 on Thursday. Stronghold Digital Mining, Inc. has a 52-week low of $1.65 and a 52-week high of $11.56. The firm’s 50 day moving average price is $3.80 and its 200-day moving average price 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 $66.25 million, a P/E ratio of -0.91 and a beta of 2.90.

Stronghold Digital Mining (NASDAQ:SDIG) last issued 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). Stronghold Digital Mining had a positive return on equity of 40.15% and a negative net margin of 7.61%. The business had revenue of $19.10 million for the quarter, compared to analyst estimates of $20.15 million. On average, sell-side analysts predict that Stronghold Digital Mining, Inc. will post -2.07 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Stronghold Digital Mining Company Profile

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.