Digi Power X (NASDAQ:DGXX) Releases Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Digi Power X (NASDAQ:DGXX) posted its earnings results on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.17), Zacks reports. The company had revenue of $8.65 million during the quarter, compared to analyst estimates of $6.80 million. Digi Power X had a negative net margin of 39.25% and a negative return on equity of 47.17%.

Digi Power X Trading Down 4.7%

Digi Power X stock opened at $2.06 on Thursday. Digi Power X has a 52 week low of $0.85 and a 52 week high of $6.78. The stock has a market cap of $94.32 million, a P/E ratio of -3.22 and a beta of 5.84. The stock has a 50 day moving average of $2.52 and a 200-day moving average of $3.12.

Insider Transactions at Digi Power X

In related news, President Alec Amar sold 27,500 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $2.53, for a total value of $69,575.00. Following the sale, the president directly owned 1,263,116 shares of the company’s stock, valued at $3,195,683.48. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Digi Power X

Several hedge funds and other institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. acquired a new stake in shares of Digi Power X in the 4th quarter valued at about $29,000. Commonwealth Equity Services LLC acquired a new position in Digi Power X in the fourth quarter worth about $29,000. Advisory Services Network LLC bought a new stake in Digi Power X in the fourth quarter valued at about $37,000. Private Advisor Group LLC bought a new stake in Digi Power X in the third quarter valued at about $39,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in Digi Power X during the fourth quarter valued at approximately $54,000. Institutional investors own 1.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DGXX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Digi Power X in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Digi Power X from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Digi Power X currently has an average rating of “Hold” and an average 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.