Insider Sale Alert: Stronghold Digital Mining Inc. [SDIG] – Is it Time to sell?


Stronghold Digital Mining Inc.’s filing revealed that its Chief Financial Officer Smith Matthew J. unloaded Company’s shares for reported $3461.0 on Aug 30. In the deal valued at $5.69 per share,608 shares were sold. As a result of this transaction, Smith Matthew J. now holds 82,256 shares worth roughly $ 0.42 million.

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Then, Shaffer Richard J. sold 39 shares, generating $225 in total proceeds. Upon selling the shares at $5.76, the Senior Vice President now owns 14,327 shares.

Before that, Smith Matthew J. sold 2,589 shares. Stronghold Digital Mining Inc. shares valued at $13,217 were divested by the Chief Financial Officer at a price of $5.11 per share. As a result of the transaction, Smith Matthew J. now holds 851,947 shares, worth roughly $4.35 million.

Cowen downgraded its Stronghold Digital Mining Inc. [SDIG] rating to a Market perform from a an Outperform in a research note published on Friday, August 18, 2022; the price target was decreased to $2.25 from $11. PT values the company’s stock at a premium of -127.11 to its Friday closing price.

Price Performance Review of SDIG

On Friday, Stronghold Digital Mining Inc. [NASDAQ:SDIG] saw its stock fall -8.91% to $5.11. On the same session, the stock had its day’s lowest price of $5.03, but rose to a high of $5.78. Over the last five days, the stock has lost -8.59%. Stronghold Digital Mining Inc. shares have risen nearly 6.66% since the year began. Nevertheless, the stocks have fallen -63.24% over the past one year. While a 52-week high of $17.40 was reached on 04/18/23, a 52-week low of $3.58 was recorded on 06/20/23. SMA at 50 days reached $6.81, while 200 days put it at $6.45. A total of 0.45 million shares were traded, compared to the trading of 0.27 million shares in the previous session.

Levels Of Support And Resistance For SDIG Stock

The 24-hour chart illustrates a support level at 4.83, which if violated will result in even more drops to 4.56. On the upside, there is a resistance level at 5.58. A further resistance level may holdings at 6.06. The Relative Strength Index (RSI) on the 14-day chart is 38.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.30%. Stochastics %K at 16.44% indicates the stock is a buying.

How much short interest is there in Stronghold Digital Mining Inc.?

A steep rise in short interest was recorded in Stronghold Digital Mining Inc. stocks on Aug 14, 2023, dropping by 2550.0 shares to a total of 0.43 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.43 million shares. There was a decline of -0.6%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.23% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.77.

Stronghold Digital Mining Inc. [SDIG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 114,670 shares, or roughly 2.16% of the outstanding SDIG shares. In other words, the investor’s shares have risen by 54,923 from its previous 13-F filing of 59747.0. Additionally, Geode Capital Management LLC increased 196.25% of its stake after which the total value it holdings stand at $393,110, while Virtu Financial BD LLC added 224.69% of its stake to hold $0.19 million in the firm. At present, Vident Investment Advisory LLC is holding 16,983 shares valued at $0.15 million. D.A. Davidson & Co. owned 12,750 shares of the company at the time of its most recent 13F filing, worth $0.11 million.

According to FactSet, Stronghold Digital Mining Inc.’s share price will average $5.15 in the next year, based on opinions of analysts polled by the firm. This is down nearly -8.2 percent from its previous closing price of $5.61. Analysts expect Stronghold Digital Mining Inc. stock to reach the higher price of $7.94, while the lowest price estimate is $2.35. However, 2 analysts have rated SDIG stock as an Overweight in their predictions for 2023.


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