Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Stronghold Digital Mining, Inc. (NASDAQ:SDIG) by 83.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 168,124 shares of the company’s stock after purchasing an additional 76,260 shares during the period. Geode Capital Management LLC’s holdings in Stronghold Digital Mining were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Anson Funds Management LP purchased a new stake in Stronghold Digital Mining during the third quarter worth about $2,466,000. Walleye Capital LLC purchased a new stake in Stronghold Digital Mining during the third quarter worth $1,022,000. K2 Principal Fund L.P. acquired a new stake in Stronghold Digital Mining in the third quarter valued at $882,000. Thomist Capital Management LP purchased a new position in shares of Stronghold Digital Mining in the second quarter valued at $485,000. Finally, State Street Corp boosted its position in shares of Stronghold Digital Mining by 122.3% in the 3rd quarter. State Street Corp now owns 57,630 shares of the company’s stock worth $291,000 after buying an additional 31,700 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stronghold Digital Mining

In related news, CEO Gregory A. Beard sold 14,201 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $3.85, for a total transaction of $54,673.85. Following the transaction, the chief executive officer now directly owns 446,533 shares in the company, valued at approximately $1,719,152.05. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 14,326 shares of company stock valued at $55,368. 21.14% of the stock is owned by insiders.

Stronghold Digital Mining Price Performance

Shares of NASDAQ:SDIG opened at $3.81 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 stock has a market cap of $65.70 million, a PE ratio of -1.03 and a beta of 2.98. Stronghold Digital Mining, Inc. has a one year low of $1.65 and a one year high of $7.91. The business’s fifty day moving average price is $4.73 and its two-hundred day moving average price is $4.34.

Analysts Set New Price Targets

Separately, B. Riley upgraded shares of Stronghold Digital Mining from a “hold” rating to a “strong-buy” rating in a report on Friday, November 15th.

Stronghold Digital Mining Company Profile

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.