Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Short Interest Down 21.0% in January

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 673,500 shares, a decrease of 21.0% from the January 15th total of 852,000 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average daily volume of 522,000 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

Separately, B. Riley raised shares of Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 15th.

Stronghold Digital Mining Trading Up 3.1 %

SDIG opened at $3.35 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.27 and a debt-to-equity ratio of 1.73. Stronghold Digital Mining has a 52 week low of $1.65 and a 52 week high of $6.70. The stock has a market cap of $57.76 million, a PE ratio of -0.91 and a beta of 2.99. The business has a 50 day moving average of $4.02 and a 200-day moving average of $4.29.

Insider Buying and Selling at Stronghold Digital Mining

In related news, CEO Gregory A. Beard sold 12,210 shares of Stronghold Digital Mining stock in a transaction on Friday, January 10th. The shares were sold at an average price of $3.71, for a total value of $45,299.10. Following the sale, the chief executive officer now owns 462,351 shares in the company, valued at $1,715,322.21. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 30,686 shares of company stock valued at $115,775 in the last 90 days. Insiders own 21.14% of the company’s stock.

Hedge Funds Weigh In On Stronghold Digital Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in SDIG. Soltis Investment Advisors LLC purchased a new position in shares of Stronghold Digital Mining during the fourth quarter valued at approximately $72,000. Virtu Financial LLC bought a new position in Stronghold Digital Mining during the 4th quarter valued at approximately $167,000. Invesco Ltd. raised its stake in Stronghold Digital Mining by 32.9% during the fourth quarter. Invesco Ltd. now owns 78,524 shares of the company’s stock valued at $275,000 after buying an additional 19,427 shares during the last quarter. State Street Corp boosted its holdings in Stronghold Digital Mining by 122.3% in the third quarter. State Street Corp now owns 57,630 shares of the company’s stock worth $291,000 after acquiring an additional 31,700 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Stronghold Digital Mining by 83.0% in the third quarter. Geode Capital Management LLC now owns 168,124 shares of the company’s stock worth $849,000 after acquiring an additional 76,260 shares during the last quarter. Hedge funds and other institutional investors own 19.33% 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.