Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Stock Holdings Lessened by Armistice Capital LLC

Armistice Capital LLC lessened its holdings in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 915,978 shares of the company’s stock after selling 84,022 shares during the period. Armistice Capital LLC owned 5.96% of Stronghold Digital Mining worth $3,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SDIG. Virtu Financial LLC bought a new position in shares of Stronghold Digital Mining during the first quarter valued at approximately $71,000. Nomura Holdings Inc. acquired a new position in Stronghold Digital Mining during the 4th quarter valued at approximately $404,000. Western Wealth Management LLC bought a new position in Stronghold Digital Mining during the 2nd quarter worth $59,000. RFG Advisory LLC acquired a new stake in Stronghold Digital Mining in the second quarter worth $43,000. Finally, Thomist Capital Management LP bought a new stake in Stronghold Digital Mining in the second quarter valued at $485,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Stronghold Digital Mining Trading Up 4.4 %

NASDAQ:SDIG opened at $5.17 on Friday. The stock has a market cap of $79.47 million, a price-to-earnings ratio of -1.10 and a beta of 2.90. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.34. Stronghold Digital Mining, Inc. has a 1 year low of $1.65 and a 1 year high of $11.56. The business has a fifty day moving average of $3.89 and a 200-day moving average of $3.69.

Stronghold Digital Mining (NASDAQ:SDIG) last announced its 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 company had revenue of $19.10 million during the quarter, compared to the consensus estimate of $20.15 million. Stronghold Digital Mining had a negative net margin of 7.61% and a positive return on equity of 40.15%. Equities analysts predict that Stronghold Digital Mining, Inc. will post -2.07 earnings per share for the current year.

Insider Activity

In related news, CFO Matthew J. Smith sold 9,170 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total transaction of $40,806.50. Following the sale, the chief financial officer now owns 159,598 shares of the company’s stock, valued at $710,211.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Gregory A. Beard sold 44,261 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $4.44, for a total transaction of $196,518.84. Following the completion of the transaction, the chief executive officer now owns 379,324 shares of the company’s stock, valued at $1,684,198.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Smith sold 9,170 shares of Stronghold Digital Mining stock in a transaction dated 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 directly owns 159,598 shares in the company, valued at $710,211.10. The disclosure for this sale can be found here. Insiders sold 78,740 shares of company stock worth $332,873 over the last three months. Corporate insiders own 47.55% of the company’s stock.

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.