The Vanguard Group, Inc. has recently announced that it has increased stake in Stronghold Digital Mining Inc (NASDAQ:SDIG) by 46.28%. After grabbing 0.17 million shares, the institutional investor is now in possession of 53070.0 shares of the Financial Company. The new investment brought the stake of investor firm to 2.11% having worth around $0.7 million. Moreover, Cetera Advisors LLC increased its share by 63141.0 to have a control over 63141.0 shares. And Geode Capital Management LLC raised its holdings to 9004.0 shares by acquiring 53323.0 shares or 0.67% of the stake.
Stronghold Digital Mining Inc (SDIG) concluded trading on 12/27/23 at a closing price of $11.31, with 3.02 million shares of worth about $34.17 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 187.06% during that period and on Wednesday the price saw a gain of about 19.68%. Currently the company’s common shares owned by public are about 7.88M shares, out of which, 6.78M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 8 times over the past 12 months. They bought 3,230,549 shares in 8 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Valkyrie Bitcoin Miners ETF are the top 3 mutual funds which are holding stakes in Stronghold Digital Mining Inc Vanguard Total Stock Market ETF is currently holding 97910.0 shares of worth totaling $0.41 million. The company recently came buying 0.0 shares which brought its stake up to 1.23% of the company’s outstanding shares. Valkyrie Bitcoin Miners ETF, after buying 41527.0 shares, have now control over 0.52% of the stake in the company. It holds 0.0 shares of worth $0.17 million.
Stronghold Digital Mining Inc (NASDAQ: SDIG) started trading at $10.00, above $0.55 from concluding price of the previous day. Stock saw a price change of 95.00% in past 5 days and over the past one month there was a price change of 170.57%. Year-to-date (YTD), SDIG shares are showing a performance of 136.07% which increased to 145.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.46 but also hit the highest price of $12.50 during that period. The average intraday trading volume for Stronghold Digital Mining Inc shares is 508.22K. The stock is currently trading 101.21% above its 20-day simple moving average (SMA20), while that difference is up 137.63% for SMA50 and it goes to 89.36% higher than SMA200.
The Vanguard Group, Inc. acquired 0.17 million shares of Stronghold Digital Mining Inc having value of about $0.7 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 53070.0 shares in the company valued at close to $600221.7, or have control over 46.28% stake in the company. Stronghold Digital Mining Inc (NASDAQ: SDIG) currently have 7.88M outstanding shares and institutions hold larger chunk of about 5.82% of that. Holding of mutual funds in the company is about 2.93% while other institutional holders and individual stake holders have control over 3.36% and 10.55% of the stake respectively.
The stock has a current market capitalization of $89.12M and its 3Y-monthly beta is at 3.13. It has posted earnings per share of -$17.50 in the same period. It has Quick Ratio of 0.32 while making debt-to-equity ratio of 0.79. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SDIG, volatility over the week remained 21.37% while standing at 15.66% over the month.
Analysts are in expectations that Stronghold Digital Mining Inc (SDIG) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is -$0.4 and it is -$1.52 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.02 which is $0.65 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$7.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 86.00% while it is estimated to increase by 80.23% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Stronghold Digital Mining Inc (SDIG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cowen on August 18, 2022 offering a Market perform rating for the stock and assigned a target price range of between $11 and $2.25 to it.
