Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) Sees Significant Increase in Short Interest

Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,451,905 shares, an increase of 180.0% from the June 15th total of 875,825 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 1,568,435 shares, the days-to-cover ratio is presently 1.6 days.

Insiders Place Their Bets

In other Blackstone Digital Infrastructure Trust news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Diane M. Morefield purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the acquisition, the director directly owned 12,500 shares of the company’s stock, valued at $250,000. This trade represents a 66.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 9,557,295 shares of company stock worth $191,145,900.

Wall Street Analysts Forecast Growth

BXDC has been the subject of several research reports. Wells Fargo & Company assumed coverage on shares of Blackstone Digital Infrastructure Trust in a research note on Monday, June 8th. They set an “overweight” rating and a $26.00 price objective for the company. BNP Paribas Exane began coverage on shares of Blackstone Digital Infrastructure Trust in a research note on Monday, June 8th. They issued an “outperform” rating and a $26.00 target price on the stock. Zacks Research upgraded shares of Blackstone Digital Infrastructure Trust to a “hold” rating in a report on Tuesday, June 9th. Citigroup assumed coverage on shares of Blackstone Digital Infrastructure Trust in a research report on Monday, June 8th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone Digital Infrastructure Trust in a report on Monday, June 8th. They issued a “buy” rating and a $24.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Blackstone Digital Infrastructure Trust has a consensus rating of “Hold” and a consensus target price of $23.79.

Blackstone Digital Infrastructure Trust Stock Performance

Blackstone Digital Infrastructure Trust stock traded up $0.24 during midday trading on Wednesday, hitting $21.04. 65,188 shares of the company were exchanged, compared to its average volume of 1,153,037. Blackstone Digital Infrastructure Trust has a fifty-two week low of $19.60 and a fifty-two week high of $22.90. The stock has a fifty day simple moving average of $21.58.