Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Matthew J. Smith Sells 9,170 Shares

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) CFO Matthew J. Smith sold 9,170 shares of the firm’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 transaction, the chief financial officer now owns 159,598 shares in the company, valued at $710,211.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Stronghold Digital Mining Price Performance

Stronghold Digital Mining stock opened at $4.51 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.34 and a quick ratio of 0.24. The business has a 50 day simple moving average of $3.81 and a 200-day simple moving average of $3.67. Stronghold Digital Mining, Inc. has a 12 month low of $1.65 and a 12 month high of $11.56. The stock has a market capitalization of $76.17 million, a PE ratio of -0.96 and a beta of 2.90.

Stronghold Digital Mining (NASDAQ:SDIG) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.74) 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 firm had revenue of $19.10 million for the quarter, compared to analysts’ expectations of $20.15 million. Equities analysts predict that Stronghold Digital Mining, Inc. will post -2.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. B. Riley raised 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. HC Wainwright reissued a “neutral” rating on shares of Stronghold Digital Mining in a report on Thursday, August 22nd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SDIG. Virtu Financial LLC purchased a new stake in Stronghold Digital Mining in the 1st quarter valued at approximately $71,000. Nomura Holdings Inc. acquired a new stake in shares of Stronghold Digital Mining in the 4th quarter valued at approximately $404,000. Western Wealth Management LLC acquired a new stake in shares of Stronghold Digital Mining in the 2nd quarter valued at approximately $59,000. RFG Advisory LLC purchased a new stake in shares of Stronghold Digital Mining in the second quarter valued at approximately $43,000. Finally, Armistice Capital LLC acquired a new position in Stronghold Digital Mining during the fourth quarter worth $7,300,000. 19.33% of the stock is 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.