Stock Traders Buy High Volume of Stronghold Digital Mining Put Options (NASDAQ:SDIG)

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) was the target of some unusual options trading activity on Monday. Stock investors purchased 10,245 put options on the stock. This represents an increase of approximately 1,387% compared to the average daily volume of 689 put options.

Insider Activity

In related news, CEO Gregory A. Beard sold 13,058 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $3.67, for a total transaction of $47,922.86. Following the completion of the sale, the chief executive officer now owns 395,057 shares in the company, valued at approximately $1,449,859.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 21,770 shares of company stock worth $79,746. Corporate insiders own 47.55% of the company’s stock.

Hedge Funds Weigh In On Stronghold Digital Mining

Large investors have recently made changes to their positions in the stock. RFG Advisory LLC purchased a new position in shares of Stronghold Digital Mining in the 2nd quarter valued at about $43,000. Western Wealth Management LLC acquired a new stake in Stronghold Digital Mining in the 2nd quarter valued at about $59,000. Virtu Financial LLC acquired a new stake in Stronghold Digital Mining in the 1st quarter valued at about $71,000. XTX Topco Ltd acquired a new stake in Stronghold Digital Mining in the 2nd quarter valued at about $130,000. Finally, Nomura Holdings Inc. acquired a new stake in Stronghold Digital Mining in the 4th quarter valued at about $404,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SDIG shares. HC Wainwright reiterated a “neutral” rating on shares of Stronghold Digital Mining in a research note on Thursday, August 22nd. B. Riley upped 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 report on Monday, August 26th.

Stronghold Digital Mining Stock Down 3.7 %

Shares of Stronghold Digital Mining stock opened at $4.44 on Tuesday. The company has a market cap of $68.25 million, a P/E ratio of -0.94 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 has a one year low of $1.65 and a one year high of $11.56. The firm has a fifty day moving average of $3.76 and a two-hundred day moving average of $3.67.

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 company had revenue of $19.10 million during the quarter, compared to analysts’ expectations of $20.15 million. Stronghold Digital Mining had a negative net margin of 7.61% and a positive return on equity of 40.15%. On average, analysts forecast that Stronghold Digital Mining will post -2.07 earnings per share for the current year.

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.