Short Interest in Digi Power X Inc. (NASDAQ:DGXX) Drops By 23.6%

Digi Power X Inc. (NASDAQ:DGXX) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 3,023,611 shares, a decrease of 23.6% from the December 15th total of 3,956,737 shares. Based on an average daily volume of 3,612,947 shares, the short-interest ratio is presently 0.8 days. Currently, 6.6% of the company’s shares are sold short. Currently, 6.6% of the company’s shares are sold short. Based on an average daily volume of 3,612,947 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright increased their price target on Digi Power X from $2.50 to $5.00 and gave the company a “buy” rating in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

Insider Transactions at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $2.72, for a total value of $74,800.00. Following the completion of the sale, the president directly owned 1,290,616 shares of the company’s stock, valued at $3,510,475.52. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DGXX. Vident Advisory LLC purchased a new stake in Digi Power X in the 3rd quarter valued at about $2,663,000. Alyeska Investment Group L.P. purchased a new position in shares of Digi Power X during the third quarter worth approximately $1,585,000. Moneta Group Investment Advisors LLC bought a new stake in shares of Digi Power X during the third quarter valued at approximately $74,000. Sprott Inc. purchased a new stake in shares of Digi Power X in the third quarter valued at approximately $69,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Digi Power X in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Digi Power X Price Performance

Shares of DGXX traded up $0.18 during mid-day trading on Friday, reaching $3.19. 3,953,421 shares of the company’s stock traded hands, compared to its average volume of 3,227,814. The stock’s 50-day moving average is $3.29 and its two-hundred day moving average is $3.19. Digi Power X has a 12 month low of $0.85 and a 12 month high of $6.78. The stock has a market cap of $146.20 million, a P/E ratio of -7.60 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Digi Power X had a negative return on equity of 47.17% and a negative net margin of 39.25%.

Digi Power X Company Profile

Digihost Technology Inc operates as a blockchain technology company that focuses on digital currency mining in the United States. It mines for cryptocurrency. The company was incorporated in 2017 and is headquartered in Toronto, Canada.