Walleye Capital LLC Takes Position in Stronghold Digital Mining, Inc. (NASDAQ:SDIG)

Walleye Capital LLC purchased a new stake in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 202,293 shares of the company’s stock, valued at approximately $1,022,000. Walleye Capital LLC owned about 1.20% of Stronghold Digital Mining at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. RFG Advisory LLC acquired a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $43,000. Western Wealth Management LLC acquired a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $59,000. XTX Topco Ltd acquired a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $130,000. Finally, Thomist Capital Management LP acquired a new position in shares of Stronghold Digital Mining during the second quarter valued at approximately $485,000. Institutional investors own 19.33% of the company’s stock.

Stronghold Digital Mining Trading Up 13.4 %

Stronghold Digital Mining stock opened at $5.68 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.21 and a current ratio of 0.27. The firm has a market cap of $97.94 million, a price-to-earnings ratio of -1.54 and a beta of 2.92. Stronghold Digital Mining, Inc. has a 1 year low of $1.65 and a 1 year high of $11.56. The firm’s 50 day moving average price is $4.90 and its two-hundred day moving average price is $4.21.

Insider Buying and Selling

In other Stronghold Digital Mining news, CEO Gregory A. Beard sold 44,261 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $4.44, for a total transaction of $196,518.84. Following the sale, the chief executive officer now directly owns 379,324 shares of the company’s stock, valued at $1,684,198.56. The trade was a 10.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Smith sold 9,170 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $4.45, for a total transaction of $40,806.50. Following the sale, the chief financial officer now directly owns 159,598 shares in the company, valued at approximately $710,211.10. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,585 shares of company stock valued at $316,757. Company insiders own 21.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SDIG. HC Wainwright restated a “neutral” rating on shares of Stronghold Digital Mining in a research report on Thursday, August 22nd. B. Riley upgraded shares of Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 15th.

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.