Digi Power X (NASDAQ:DGXX) Stock Lifted to Hold by Wall Street Zen

Digi Power X (NASDAQ:DGXX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research note on Thursday, October 15th. Alliance Global Partners restated a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

Digi Power X Stock Performance

DGXX opened at $2.28 on Friday. The company has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $3.90. Digi Power X has a 52 week low of $1.77 and a 52 week high of $9.20. The firm has a market capitalization of $231.19 million, a PE ratio of -4.22 and a beta of 6.31.

Digi Power X (NASDAQ:DGXX) last issued its earnings results on Friday, November 13th. The company reported $0.01 EPS for the quarter. The company had revenue of $12.25 million during the quarter. Digi Power X had a negative net margin of 116.79% and a negative return on equity of 26.75%.

Insiders Place Their Bets

In other news, CEO Michel Amar purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $3.60 per share, with a total value of $72,000.00. Following the acquisition, the chief executive officer directly owned 1,699,885 shares of the company’s stock, valued at approximately $6,119,586. This represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Alec Amar acquired 10,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $3.86 per share, with a total value of $38,600.00. Following the transaction, the president owned 1,378,949 shares in the company, valued at $5,322,743.14. This represents a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 50,000 shares of company stock worth $165,800. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Digi Power X

Several large investors have recently modified their holdings of DGXX. Weiss Asset Management LP acquired a new stake in shares of Digi Power X during the first quarter worth about $540,000. Members Advisory Group LLC grew its position in shares of Digi Power X by 265.5% in the 2nd quarter. Members Advisory Group LLC now owns 255,468 shares of the company’s stock valued at $1,392,000 after purchasing an additional 185,581 shares during the period. State Street Corp acquired a new position in shares of Digi Power X in the 3rd quarter valued at approximately $460,000. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Digi Power X by 20.3% in the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 505,192 shares of the company’s stock valued at $2,071,000 after purchasing an additional 85,241 shares during the period. Finally, Engineers Gate Manager LP increased its stake in Digi Power X by 91.4% during the 2nd quarter. Engineers Gate Manager LP now owns 98,135 shares of the company’s stock worth $535,000 after purchasing an additional 46,851 shares in the last quarter. 1.93% of the stock is currently owned by institutional investors.

About Digi Power X

Digi Power X is a digital infrastructure company focused on developing and operating data centers and energy assets. Its facilities support Bitcoin mining and, as the company expands its strategy, high-performance computing and artificial intelligence workloads. The company was formerly known as Digihost Technology Inc. and has operated data center and power-generation assets in the United States, including in New York and Alabama. Its integrated approach combines computing facilities with energy infrastructure to support its operations.