B. Riley Upgrades Stronghold Digital Mining (NASDAQ:SDIG) to Strong-Buy

Stronghold Digital Mining (NASDAQ:SDIG) was upgraded by research analysts at B. Riley from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of Stronghold Digital Mining in a research report on Thursday, August 22nd.

Stronghold Digital Mining Stock Performance

Stronghold Digital Mining stock opened at $5.26 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.27 and a quick ratio of 0.21. Stronghold Digital Mining has a 12 month low of $1.65 and a 12 month high of $11.56. The company has a market cap of $88.84 million, a price-to-earnings ratio of -1.42 and a beta of 2.90. The stock’s 50-day moving average is $4.77 and its 200-day moving average is $4.00.

Insider Activity

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 15,259 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $4.06, for a total value of $61,951.54. Following the completion of the sale, the chief executive officer now owns 391,437 shares of the company’s stock, valued at $1,589,234.22. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Smith sold 9,170 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $4.45, for a total transaction of $40,806.50. Following the transaction, the chief financial officer now directly owns 159,598 shares in the company, valued at approximately $710,211.10. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,585 shares of company stock worth $316,757. 21.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SDIG. Virtu Financial LLC acquired a new position in shares of Stronghold Digital Mining in the 1st quarter valued at approximately $71,000. RFG Advisory LLC acquired a new stake in Stronghold Digital Mining in the second quarter valued at $43,000. Western Wealth Management LLC acquired a new stake in Stronghold Digital Mining in the second quarter valued at $59,000. Thomist Capital Management LP bought a new position in Stronghold Digital Mining during the 2nd quarter valued at $485,000. Finally, XTX Topco Ltd acquired a new position in Stronghold Digital Mining during the 2nd quarter worth $130,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Stronghold Digital Mining Company Profile

Stronghold Digital Mining, Inc, a crypto asset mining company, focuses on Bitcoin mining in the United States. It operates in two segments, Energy Operations and Cryptocurrency Operations. It also owns and operates coal refuse power generation facilities; and provides environmental remediation and reclamation services.