The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Stronghold Digital Mining Inc. shares valued at $999,999 were purchased by Beard Gregory A on Sep 19. At $1.66 per share, Beard Gregory A acquired 602,409 shares. The insider’s holdings grew to 602,409 shares worth approximately $0.66 million following the completion of this transaction.
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As published in a research note from Cowen on August 18, 2022, Stronghold Digital Mining Inc. [SDIG] has been rated down from an Outperform to a Market perform and the price target has been revised to $2.25 from $11. This represents a 51.11% premium over Wednesday’s closing price.
Analyzing SDIG’s Price Performance
On Wednesday, Stronghold Digital Mining Inc. [NASDAQ: SDIG] plunged -5.98% to $1.10. The stock’s lowest price that day was $1.09, but it reached a high of $1.235 in the same session. During the last five days, there has been a drop of approximately -25.68%. Over the course of the year, Stronghold Digital Mining Inc. shares have dropped approximately -91.44%. A 50-day SMA is recorded $2.0844, while a 200-day SMA reached $6.1772. Nevertheless, trading volume fell to 1.06 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for Stronghold Digital Mining Inc. (SDIG)
According to the 24-hour chart, there is a support level at 1.0483, which, if violated, would cause prices to drop to 0.9967. In the upper region, resistance lies at 1.1933. The next price resistance is at 1.2867. RSI (Relative Strength Index) is 33.10 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1898, which suggests the price will decrease in the coming days. Percent R is at 98.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Stronghold Digital Mining Inc. subject to short interest?
Stocks of Stronghold Digital Mining Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 50000.0 shares to 1.91 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.96 million shares. A decline of -2.62% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.71 of the overall float, the days-to-cover ratio (short ratio) decline to 2.71.
Which companies own the most shares of Stronghold Digital Mining Inc. (SDIG)?
According to Cooper Creek Partners Management filings, the company currently owns 1,263,836 shares, which is about 6.29% of the total SDIG shares outstanding. The investor’s shares have appreciated by 303,235 from its previous 13-F filing of 960601.0 shares. With the completion of the sale transaction, Toroso Investments LLC’s stake is now worth $1,489,507. The Vanguard Group, Inc. acquire a 112.80% interest valued at $0.97 million while Columbia Management Investment Ad purchased a 4,190 stake. A total of -403,140 shares of Stronghold Digital Mining Inc. were bought by Ardsley Advisory Partners LP during the quarter, and 0 by David M. Knott Partnership. In its current portfolio, Nokomis Capital LLC holds 193,432 shares valued at $0.27 million.
In terms of Stronghold Digital Mining Inc. share price expectations, FactSet research, analysts set an average price target of $4.68 in the next 12 months, up nearly 241.88% from the previous closing price of $1.17. Analysts anticipate Stronghold Digital Mining Inc. stock to reach $7.00 by 2022, with the lowest price target being $2.25. In spite of this, 7 analysts ranked Stronghold Digital Mining Inc. stock as a Buy at the end of 2022.