Insider Selling: Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Insider Sells 2,900 Shares of Stock

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) insider Ryan M. Weber sold 2,900 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $3.71, for a total transaction of $10,759.00. Following the transaction, the insider now owns 56,778 shares of the company’s stock, valued at $210,646.38. This trade represents a 4.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Stronghold Digital Mining Stock Down 4.2 %

Shares of SDIG stock traded down $0.16 during trading hours on Monday, hitting $3.65. 358,168 shares of the company were exchanged, compared to its average volume of 413,515. Stronghold Digital Mining, Inc. has a one year low of $1.65 and a one year high of $6.70. 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 stock has a market capitalization of $62.94 million, a price-to-earnings ratio of -0.99 and a beta of 2.98. The business’s 50-day simple moving average is $4.71 and its two-hundred day simple moving average is $4.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Thomist Capital Management LP acquired a new position in Stronghold Digital Mining in the second quarter worth approximately $485,000. XTX Topco Ltd purchased a new stake in shares of Stronghold Digital Mining during the second quarter worth $130,000. Walleye Capital LLC bought a new stake in shares of Stronghold Digital Mining in the 3rd quarter valued at approximately $1,022,000. State Street Corp increased its position in Stronghold Digital Mining by 122.3% during the third quarter. State Street Corp now owns 57,630 shares of the company’s stock worth $291,000 after buying an additional 31,700 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in Stronghold Digital Mining during the third quarter worth approximately $2,466,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a 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.