Insider Selling at Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

On January 10th, Ryan M. Weber, an insider at Stronghold Digital Mining, Inc. (NASDAQ:SDIG), sold 2,900 shares of the company's stock. The shares were sold for an average price of $3.71, resulting in a total transaction value of $10,759. Following this sale, Weber now owns 56,778 shares of Stronghold, which are valued at approximately $210,646.38. This transaction marks a 4.86% reduction in Weber's stake in the company. The details of the sale were made public in a filing with the Securities and Exchange Commission (SEC), which is available on the SEC's website.

Stock Performance of Stronghold Digital Mining

On Monday, the value of SDIG stock dropped by $0.16, trading at $3.65. During the trading session, 358,168 shares changed hands, which is lower than the average daily volume of 413,515 shares. In the past year, Stronghold Digital Mining's stock has seen a low of $1.65 and a high of $6.70. The company maintains a debt-to-equity ratio of 1.73, with a quick ratio of 0.21 and a current ratio of 0.27. Stronghold Digital Mining holds a market capitalization of $62.94 million, and its price-to-earnings ratio stands at -0.99 along with a beta of 2.98. The company has a 50-day simple moving average of $4.71 and a two-hundred day simple moving average of $4.33.

Recent Institutional Activity

Several large investors have recently adjusted their stakes in Stronghold Digital Mining. In Q2, Thomist Capital Management LP initiated a position in the company valued at around $485,000. Similarly, XTX Topco Ltd acquired shares worth $130,000 in the same quarter. In Q3, Walleye Capital LLC invested about $1,022,000 in the firm. Additionally, State Street Corp bolstered its position by 122.3%, increasing its holdings by 31,700 shares, bringing its total to 57,630 shares worth $291,000. Anson Funds Management LP also established a new stake valued at approximately $2,466,000 during Q3. Overall, institutional investors and hedge funds own 19.33% of Stronghold's stock.

Analyst Recommendations

In a recent analysis, B. Riley upgraded Stronghold Digital Mining from a "hold" rating to a "strong-buy" rating, reflecting a positive outlook for the stock.

Overview of Stronghold Digital Mining

Stronghold Digital Mining, Inc. is a company engaged in crypto asset mining, specifically focused on Bitcoin mining in the United States. The company operates through two main segments: Energy Operations and Cryptocurrency Operations. Additionally, it manages coal refuse power generation facilities and provides services for environmental remediation and reclamation.

Insider, Selling, Stocks