B. Riley lowered shares of Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) from a buy rating to a neutral rating in a research report released on Tuesday morning, The Fly reports. B. Riley also issued estimates for Stronghold Digital Mining's FY2023 earnings at ($0.46) EPS.
Several other equities research analysts also recently weighed in on SDIG. Compass Point decreased their price target on Stronghold Digital Mining to $2.50 in a research note on Tuesday, November 15th. Northland Securities lowered their target price on shares of Stronghold Digital Mining to $2.00 in a research note on Wednesday, November 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $2.50.
Get Stronghold Digital Mining alerts:Stronghold Digital Mining Stock Performance
NASDAQ:SDIG opened at $0.65 on Tuesday. The firm has a market capitalization of $33.17 million, a PE ratio of -0.20 and a beta of 2.01. The stock's fifty day moving average is $0.59 and its 200 day moving average is $1.26. Stronghold Digital Mining has a fifty-two week low of $0.40 and a fifty-two week high of $14.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.48 and a current ratio of 0.50.
Stronghold Digital Mining (NASDAQ:SDIG – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.08). Stronghold Digital Mining had a negative net margin of 69.77% and a negative return on equity of 51.87%. The firm had revenue of $24.75 million for the quarter, compared to the consensus estimate of $24.79 million. On average, sell-side analysts anticipate that Stronghold Digital Mining will post -0.68 earnings per share for the current year.Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SDIG. Penserra Capital Management LLC bought a new position in shares of Stronghold Digital Mining during the first quarter valued at approximately $48,000. Bank of America Corp DE lifted its holdings in 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 worth $80,000 after buying an additional 4,143 shares during the period. Virtu Financial LLC bought a new stake in Stronghold Digital Mining during the 1st quarter valued at $110,000. Warberg Asset Management LLC purchased a new position in shares of Stronghold Digital Mining in the 3rd quarter valued at $26,000. Finally, Prelude Capital Management LLC raised its position in shares of Stronghold Digital Mining by 39.0% in the 1st quarter. Prelude Capital Management LLC now owns 28,864 shares of the company's stock worth $169,000 after acquiring an additional 8,097 shares in the last quarter. Hedge funds and other institutional investors own 12.37% of the company's stock.
Stronghold Digital Mining Company Profile
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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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