Traders Buy Large Volume of Put Options on Digi Power X (NASDAQ:DGXX)

Digi Power X Inc. (NASDAQ:DGXX) was the target of unusually large options trading activity on Thursday. Stock investors purchased 13,340 put options on the company. This represents an increase of approximately 68% compared to the typical volume of 7,951 put options.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DGXX. Wall Street Zen upgraded shares of Digi Power X from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Alliance Global Partners reiterated a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Digi Power X in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Digi Power X has a consensus rating of “Hold” and an average price target of $4.00.

Insiders Place Their Bets

In other Digi Power X news, President Alec Amar sold 27,500 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $3.56, for a total transaction of $97,900.00. Following the completion of the sale, the president owned 1,368,949 shares in the company, valued at $4,873,458.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 55,000 shares of company stock worth $160,032 in the last three months.

Hedge Funds Weigh In On Digi Power X

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vennlight Capital Management LP acquired a new position in shares of Digi Power X during the fourth quarter valued at $4,471,000. Vident Advisory LLC acquired a new position in shares of Digi Power X during the third quarter valued at $2,663,000. Renaissance Technologies LLC boosted its holdings in shares of Digi Power X by 157.8% during the fourth quarter. Renaissance Technologies LLC now owns 883,501 shares of the company’s stock valued at $2,253,000 after acquiring an additional 540,801 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Digi Power X during the third quarter valued at $1,585,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Digi Power X by 1,771.7% during the fourth quarter. Geode Capital Management LLC now owns 592,399 shares of the company’s stock valued at $1,511,000 after acquiring an additional 560,749 shares during the period. Institutional investors and hedge funds own 1.93% of the company’s stock.

Digi Power X Price Performance

DGXX stock opened at $8.11 on Friday. Digi Power X has a 1-year low of $1.18 and a 1-year high of $9.20. The firm has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $3.48. The firm has a market cap of $566.16 million, a price-to-earnings ratio of -12.48 and a beta of 5.85.

Digi Power X (NASDAQ:DGXX) last announced its quarterly earnings results on Friday, May 15th. The company reported $999.00 earnings per share (EPS) for the quarter. Digi Power X had a negative net margin of 98.79% and a negative return on equity of 42.04%. The company had revenue of $6.79 million during the quarter.

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.