Digi Power X Inc. (NASDAQ:DGXX) Short Interest Up 90.0% in May

Digi Power X Inc. (NASDAQ:DGXX) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 7,571,994 shares, a growth of 90.0% from the April 30th total of 3,986,145 shares. Currently, 10.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,484,701 shares, the short-interest ratio is presently 0.3 days.

Digi Power X Trading Down 3.1%

DGXX opened at $7.62 on Thursday. The company has a market cap of $531.95 million, a price-to-earnings ratio of -11.72 and a beta of 6.19. The company’s 50 day moving average is $4.81 and its 200 day moving average is $3.58. Digi Power X has a 12-month low of $1.42 and a 12-month high of $9.20.

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

Insider Activity at Digi Power X

In other news, President Alec Amar sold 27,500 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $3.56, for a total value of $97,900.00. Following the transaction, the president owned 1,368,949 shares of the company’s stock, valued at $4,873,458.44. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 55,000 shares of company stock valued at $160,032.

Hedge Funds Weigh In On Digi Power X

Large investors have recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in Digi Power X during the fourth quarter valued at approximately $26,000. Commonwealth Equity Services LLC bought a new position in Digi Power X during the fourth quarter valued at $29,000. Creative Financial Designs Inc. ADV bought a new position in Digi Power X during the fourth quarter valued at $29,000. J.W. Cole Advisors Inc. bought a new position in shares of Digi Power X in the fourth quarter worth about $29,000. Finally, Advisory Services Network LLC bought a new position in shares of Digi Power X in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 1.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DGXX shares. Wall Street Zen raised shares of Digi Power X from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Alliance Global Partners restated a “buy” rating on shares of Digi Power X in a research note on Friday, May 15th. Finally, Weiss Ratings restated 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 given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.00.

About Digi Power X

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.