Digi Power X Sees Unusually Large Options Volume (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the target of unusually large options trading on Thursday. Stock investors purchased 21,488 call options on the company. This is an increase of approximately 64% compared to the average daily volume of 13,134 call options.

Digi Power X Stock Performance

Shares of DGXX stock traded up $0.14 on Thursday, hitting $4.04. The company had a trading volume of 1,775,256 shares, compared to its average volume of 5,894,402. Digi Power X has a twelve month low of $1.86 and a twelve month high of $9.20. The firm has a market cap of $365.75 million, a P/E ratio of -7.49 and a beta of 6.28. The stock’s 50-day moving average is $4.42 and its two-hundred day moving average is $4.28.

Digi Power X (NASDAQ:DGXX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.17) EPS for the quarter. Digi Power X had a negative return on equity of 26.75% and a negative net margin of 116.79%.The company had revenue of $6.63 million during the quarter.

Insider Activity

In other news, CEO Michel Amar purchased 20,000 shares of Digi Power X stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $3.60 per share, for a total transaction of $72,000.00. Following the completion of the acquisition, the chief executive officer owned 1,699,885 shares in the company, valued at approximately $6,119,586. This trade represents a 1.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Alec Amar purchased 10,000 shares of Digi Power X stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $3.86 per share, for a total transaction of $38,600.00. Following the completion of the acquisition, the president owned 1,378,949 shares of the company’s stock, valued at approximately $5,322,743.14. The trade was a 0.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DGXX. Members Advisory Group LLC boosted its stake 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 last quarter. Wedbush Securities Inc. bought a new position in Digi Power X during the second quarter worth $113,000. FNY Investment Advisers LLC acquired a new position in Digi Power X in the second quarter valued at $79,000. Dynamic Advisor Solutions LLC acquired a new position in Digi Power X in the second quarter valued at $66,000. Finally, Bank of America Corp DE boosted its position in Digi Power X by 5,228.9% during the first quarter. Bank of America Corp DE now owns 43,484 shares of the company’s stock valued at $88,000 after acquiring an additional 42,668 shares during the last quarter. Institutional investors and hedge funds own 1.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research report on Friday, August 14th. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Digi Power X currently has an average rating of “Hold” and a consensus price target of $4.00.

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.