B. Riley Increases Stronghold Digital Mining (NASDAQ:SDIG) Price Target to $6.00

Stronghold Digital Mining (NASDAQ:SDIG) had its price objective boosted by B. Riley from $5.00 to $6.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

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

Stronghold Digital Mining Stock Performance

Shares of NASDAQ:SDIG opened at $4.85 on Monday. The company has a market cap of $74.55 million, a price-to-earnings ratio of -1.03 and a beta of 2.79. The company has a 50-day moving average price of $3.73 and a 200-day moving average price of $3.76. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 0.70. Stronghold Digital Mining has a 12 month low of $1.65 and a 12 month high of $11.56.

Insider Buying and Selling

In related news, CEO Gregory A. Beard sold 13,058 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $3.67, for a total value of $47,922.86. Following the completion of the transaction, the chief executive officer now directly owns 395,057 shares of the company’s stock, valued at $1,449,859.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 21,770 shares of company stock valued at $79,746 over the last three months. Corporate insiders own 47.55% of the company’s stock.

Hedge Funds Weigh In On Stronghold Digital Mining

A number of institutional investors have recently bought and sold shares of SDIG. Virtu Financial LLC bought a new position in shares of Stronghold Digital Mining during the first quarter valued at approximately $71,000. Nomura Holdings Inc. bought a new position in shares of Stronghold Digital Mining during the fourth quarter valued at approximately $404,000. Western Wealth Management LLC bought a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $59,000. RFG Advisory LLC bought a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $43,000. Finally, Armistice Capital LLC bought a new position in shares of Stronghold Digital Mining during the fourth quarter valued at approximately $7,300,000. 19.33% of the stock is owned by institutional investors.

About Stronghold Digital Mining

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.