Digi Power X Target of Unusually Large Options Trading (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) saw unusually large options trading on Thursday. Traders bought 13,340 put options on the company. This is an increase of approximately 68% compared to the average volume of 7,951 put options.

Digi Power X Stock Up 7.7%

DGXX stock traded up $0.61 during trading on Thursday, hitting $8.62. The company had a trading volume of 6,266,251 shares, compared to its average volume of 6,199,270. The firm has a 50-day moving average price of $4.26 and a 200-day moving average price of $3.45. Digi Power X has a 12 month low of $1.18 and a 12 month high of $9.20. The stock has a market cap of $602.04 million, a price-to-earnings ratio of -13.34 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last issued its quarterly earnings results on Friday, May 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Digi Power X had a negative return on equity of 42.04% and a negative net margin of 98.79%.The business had revenue of $6.79 million for the quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Alliance Global Partners reissued a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Finally, Wall Street Zen raised Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.00.

Insider Buying and Selling

In other Digi Power X news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president owned 1,368,949 shares of the company’s stock, valued at approximately $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,000 shares of company stock valued at $160,032 over the last quarter.

Hedge Funds Weigh In On Digi Power X

Large investors have recently made changes to their positions in the company. Weiss Asset Management LP acquired a new position in shares of Digi Power X during the first quarter valued at $540,000. Dimensional Fund Advisors LP lifted its stake in shares of Digi Power X by 29.2% during the first quarter. Dimensional Fund Advisors LP now owns 140,081 shares of the company’s stock valued at $284,000 after acquiring an additional 31,666 shares during the period. Members Advisory Group LLC lifted its stake in shares of Digi Power X by 6.6% during the first quarter. Members Advisory Group LLC now owns 69,887 shares of the company’s stock valued at $142,000 after acquiring an additional 4,310 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Digi Power X during the first quarter valued at $34,000. Finally, Sovereign Financial Group Inc. acquired a new position in shares of Digi Power X during the first quarter valued at $39,000. Institutional investors and hedge funds own 1.93% of the company’s stock.

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.