HC Wainwright Weighs in on Stronghold Digital Mining, Inc.’s Q3 2024 Earnings (NASDAQ:SDIG)

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) – Stock analysts at HC Wainwright lowered their Q3 2024 earnings per share (EPS) estimates for Stronghold Digital Mining in a research note issued to investors on Thursday, August 15th. HC Wainwright analyst K. Dede now anticipates that the company will post earnings per share of ($0.51) for the quarter, down from their prior estimate of ($0.50). HC Wainwright has a “Buy” rating and a $4.00 price target on the stock. The consensus estimate for Stronghold Digital Mining’s current full-year earnings is ($0.94) per share. HC Wainwright also issued estimates for Stronghold Digital Mining’s Q4 2024 earnings at ($0.54) EPS.

Separately, B. Riley cut their price target on shares of Stronghold Digital Mining from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, July 12th.

Stronghold Digital Mining Trading Down 4.7 %

Shares of Stronghold Digital Mining stock opened at $2.61 on Monday. The firm has a market cap of $40.12 million, a PE ratio of -0.55 and a beta of 2.79. Stronghold Digital Mining has a 1 year low of $1.65 and a 1 year high of $11.56. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.50 and a quick ratio of 0.39. The stock has a fifty day moving average price of $3.59 and a 200-day moving average price of $3.75.

Hedge Funds Weigh In On Stronghold Digital Mining

Hedge funds have recently made changes to their positions in the stock. RFG Advisory LLC purchased a new stake in Stronghold Digital Mining during the 2nd quarter worth about $43,000. Western Wealth Management LLC bought a new stake in shares of Stronghold Digital Mining during the second quarter valued at about $59,000. Virtu Financial LLC purchased a new stake in shares of Stronghold Digital Mining in the first quarter worth about $71,000. XTX Topco Ltd bought a new position in shares of Stronghold Digital Mining in the second quarter valued at approximately $130,000. Finally, Nomura Holdings Inc. purchased a new position in Stronghold Digital Mining during the fourth quarter valued at approximately $404,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stronghold Digital Mining

In related news, CEO Gregory A. Beard sold 13,058 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $3.67, for a total transaction of $47,922.86. Following the sale, the chief executive officer now directly owns 395,057 shares in the company, valued at approximately $1,449,859.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 21,770 shares of company stock worth $79,746 over the last quarter. Corporate insiders own 47.55% of the company’s stock.

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.