Stronghold Digital Mining, Inc. (NASDAQ:SDIG – Get Rating) – DA Davidson decreased their Q4 2022 earnings estimates for Stronghold Digital Mining in a report issued on Tuesday, January 31st. DA Davidson analyst C. Brendler now anticipates that the company will post earnings per share of ($0.45) for the quarter, down from their prior forecast of ($0.41). The consensus estimate for Stronghold Digital Mining's current full-year earnings is ($0.68) per share.

Other analysts have also recently issued reports about the stock. Northland Securities dropped their price target on shares of Stronghold Digital Mining to $2.00 in a research note on Wednesday, November 16th. Compass Point lowered Stronghold Digital Mining from a "buy" rating to a "neutral" rating in a report on Wednesday, January 18th. Finally, B. Riley cut Stronghold Digital Mining from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $2.50.

Stronghold Digital Mining Stock Performance

Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.08). Stronghold Digital Mining had a negative return on equity of 51.87% and a negative net margin of 69.77%. The company had revenue of $24.75 million during the quarter, compared to the consensus estimate of $24.79 million.

Hedge Funds Weigh In On Stronghold Digital Mining

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Stronghold Digital Mining by 43.2% during the first quarter. Bank of America Corp DE now owns 13,728 shares of the company's stock valued at $80,000 after purchasing an additional 4,143 shares during the period. AJ Wealth Strategies LLC increased its position in shares of Stronghold Digital Mining by 21.1% in the first quarter. AJ Wealth Strategies LLC now owns 45,529 shares of the company's stock valued at $266,000 after acquiring an additional 7,936 shares during the period. Prelude Capital Management LLC raised its stake in shares of Stronghold Digital Mining by 39.0% during the first quarter. Prelude Capital Management LLC now owns 28,864 shares of the company's stock valued at $169,000 after acquiring an additional 8,097 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Stronghold Digital Mining during the first quarter worth about $48,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Stronghold Digital Mining by 72.0% in the third quarter. Tower Research Capital LLC TRC now owns 32,598 shares of the company's stock worth $34,000 after purchasing an additional 13,647 shares during the last quarter. Hedge funds and other institutional investors own 12.37% of the company's stock.

About Stronghold Digital Mining

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Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities. The company was incorporated in 2021 and is headquartered in New York, New York.

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